Medallion Financial (NASDAQ:MFIN) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Medallion Financial Corp. (NASDAQ:MFIN) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.75 and traded as high as $10.33. Medallion Financial shares last traded at $10.21, with a volume of 112,850 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MFIN shares. Zacks Research upgraded Medallion Financial from a “strong sell” rating to a “hold” rating in a report on Tuesday. Weiss Ratings cut Medallion Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, June 17th. Finally, Piper Sandler initiated coverage on Medallion Financial in a research report on Friday, June 12th. They issued a “neutral” rating and a $10.50 target price on the stock. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $11.25.

Medallion Financial Price Performance

The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. The firm has a market cap of $233.87 million, a price-to-earnings ratio of 6.84 and a beta of 0.78. The stock’s fifty day moving average price is $9.64 and its 200-day moving average price is $9.74.

Medallion Financial (NASDAQ:MFIN) last announced its quarterly earnings results on Wednesday, April 29th. The credit services provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.05). The business 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%. As a group, equities research analysts forecast that Medallion Financial Corp. will post 1.13 earnings per share for the current fiscal year.

Medallion Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were given a $0.14 dividend. The ex-dividend date of this dividend was Monday, May 11th. This is an increase from Medallion Financial’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of 5.5%. Medallion Financial’s dividend payout ratio is currently 37.84%.

Institutional Investors Weigh In On Medallion Financial

A number of institutional investors and hedge funds have recently made changes to their positions in MFIN. Empowered Funds LLC lifted its holdings in shares of Medallion Financial by 10.8% in the 1st quarter. Empowered Funds LLC now owns 56,690 shares of the credit services provider’s stock worth $485,000 after acquiring an additional 5,510 shares during the last quarter. Sei Investments Co. increased its holdings in Medallion Financial by 124.0% in the 1st quarter. Sei Investments Co. now owns 490,972 shares of the credit services provider’s stock valued at $4,203,000 after purchasing an additional 271,789 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Medallion Financial by 9.3% in the 1st quarter. Hsbc Holdings PLC now owns 24,043 shares of the credit services provider’s stock valued at $209,000 after purchasing an additional 2,052 shares during the last quarter. Stephens Inc. AR purchased a new stake in Medallion Financial in the first quarter valued at approximately $96,000. Finally, Ritholtz Wealth Management raised its position in Medallion Financial by 4.4% in the first quarter. Ritholtz Wealth Management now owns 96,761 shares of the credit services provider’s stock valued at $828,000 after purchasing an additional 4,066 shares during the period. 40.56% of the stock is owned by hedge funds and other institutional investors.

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.