Medallion Financial (NASDAQ:MFIN) Announces Quarterly Earnings Results

Medallion Financial (NASDAQ:MFIN) issued its earnings results on Thursday. The credit services provider reported $1.66 EPS for the quarter, FiscalAI reports. Medallion Financial had a net margin of 12.12% and a return on equity of 9.28%. The company had revenue of $76.56 million for the quarter.

Medallion Financial Stock Up 1.8%

MFIN stock traded up $0.18 during trading on Thursday, hitting $10.05. 34,212 shares of the stock traded hands, compared to its average volume of 39,432. The stock has a market cap of $233.95 million, a price-to-earnings ratio of 5.88 and a beta of 0.69. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.21 and a quick ratio of 1.18. Medallion Financial has a 1 year low of $7.71 and a 1 year high of $10.98. The firm’s 50 day moving average is $10.21 and its two-hundred day moving average is $10.14.

Wall Street Analysts Forecast Growth

MFIN has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Medallion Financial in a research report on Thursday, January 22nd. Zacks Research lowered Medallion Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Finally, Wall Street Zen downgraded shares of Medallion Financial from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Medallion Financial presently has a consensus rating of “Hold” and a consensus price target of $12.00.

Hedge Funds Weigh In On Medallion Financial

A number of hedge funds have recently bought and sold shares of the business. Ritholtz Wealth Management lifted its position in shares of Medallion Financial by 10.6% in the fourth quarter. Ritholtz Wealth Management now owns 92,695 shares of the credit services provider’s stock worth $954,000 after buying an additional 8,851 shares in the last quarter. Daytona Street Capital LLC bought a new position in shares of Medallion Financial during the 4th quarter valued at approximately $51,000. Millennium Management LLC increased its position in Medallion Financial by 24.5% in the third quarter. Millennium Management LLC now owns 43,528 shares of the credit services provider’s stock worth $440,000 after purchasing an additional 8,565 shares during the last quarter. Bank of America Corp DE increased its position in Medallion Financial by 4.4% in the third quarter. Bank of America Corp DE now owns 26,318 shares of the credit services provider’s stock worth $266,000 after purchasing an additional 1,112 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in Medallion Financial by 43.1% during the third quarter. Two Sigma Investments LP now owns 86,634 shares of the credit services provider’s stock valued at $875,000 after purchasing an additional 26,091 shares in the last quarter. Hedge funds and other institutional investors own 40.56% of the company’s stock.

Medallion Financial Company Profile

Medallion Financial Corporation is a specialty finance company that provides asset-based lending solutions to small and mid-sized businesses in the United States. The company’s core business activities include secured loans collateralized by business assets such as insurance premiums, commercial real estate, maritime assets and portfolio receivables. Through its insurance premium finance division, Medallion offers short-term loans that allow policyholders to spread insurance costs over multiple payments, while its portfolio financing arm provides funding against a borrower’s existing asset portfolios.

Founded in 1998 and headquartered in Minneapolis, Minnesota, Medallion Financial originally established itself in the taxi medallion lending market, extending loans secured by New York City cab medallions.