Medallion Financial (NASDAQ:MFIN) Raised to “Hold” at Zacks Research

Medallion Financial (NASDAQ:MFIN) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

MFIN has been the subject of a number of other research reports. Piper Sandler initiated coverage on shares of Medallion Financial in a research note on Friday, June 12th. They issued a “neutral” rating and a $10.50 price target for the company. Weiss Ratings lowered shares of Medallion Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.25.

Medallion Financial Stock Up 1.3%

Shares of MFIN stock opened at $10.34 on Tuesday. The firm’s fifty day moving average price is $9.63 and its two-hundred day moving average price is $9.75. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. Medallion Financial has a 1 year low of $7.85 and a 1 year high of $11.00. The firm has a market capitalization of $238.96 million, a P/E ratio of 6.99 and a beta of 0.78.

Medallion Financial (NASDAQ:MFIN) last released its earnings results on Wednesday, April 29th. The credit services provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.05). The company had revenue of $79.07 million during the quarter, compared to analyst estimates of $56.15 million. Medallion Financial had a net margin of 10.35% and a return on equity of 7.73%. On average, equities analysts predict that Medallion Financial will post 1.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Medallion Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its position in shares of Medallion Financial by 124.0% during the 1st quarter. Sei Investments Co. now owns 490,972 shares of the credit services provider’s stock worth $4,203,000 after acquiring an additional 271,789 shares in the last quarter. Geode Capital Management LLC raised its position in Medallion Financial by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 406,754 shares of the credit services provider’s stock valued at $4,186,000 after purchasing an additional 6,458 shares in the last quarter. Uniplan Investment Counsel Inc. raised its position in Medallion Financial by 34.5% during the fourth quarter. Uniplan Investment Counsel Inc. now owns 340,123 shares of the credit services provider’s stock valued at $3,500,000 after purchasing an additional 87,321 shares in the last quarter. State Street Corp raised its position in Medallion Financial by 1.0% during the fourth quarter. State Street Corp now owns 243,509 shares of the credit services provider’s stock valued at $2,506,000 after purchasing an additional 2,462 shares in the last quarter. Finally, De Lisle Partners LLP lifted its stake in Medallion Financial by 40.4% during the fourth quarter. De Lisle Partners LLP now owns 180,079 shares of the credit services provider’s stock worth $1,851,000 after purchasing an additional 51,822 shares during the last quarter. 40.56% of the stock is owned by institutional investors and hedge funds.

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.