Medallion Financial (MFIN) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Medallion Financial (NASDAQ:MFIN) from a hold rating to a sell rating in a report published on Wednesday.

According to Zacks, “Medallion Financial Corp. is a specialty finance company that originates and services loans that finance taxicab medallions and various types of commercial loans. “

A number of other brokerages also recently issued reports on MFIN. Sandler O’Neill set a $5.00 price target on shares of Medallion Financial and gave the company a hold rating in a report on Tuesday, March 20th. ValuEngine downgraded shares of Medallion Financial from a hold rating to a sell rating in a report on Friday, April 6th. Finally, Northland Securities began coverage on shares of Medallion Financial in a report on Thursday, February 15th. They issued an outperform rating and a $10.00 price target on the stock.

Shares of NASDAQ MFIN opened at $4.38 on Wednesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 38.01 and a current ratio of 38.01. The firm has a market capitalization of $108.51, a price-to-earnings ratio of 14.13 and a beta of 1.71. Medallion Financial has a 52-week low of $2.00 and a 52-week high of $5.56.

Medallion Financial (NASDAQ:MFIN) last announced its quarterly earnings results on Thursday, March 1st. The credit services provider reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.10). The company had revenue of $2.62 million during the quarter, compared to the consensus estimate of $0.88 million. Medallion Financial had a net margin of 1.41% and a negative return on equity of 2.50%. equities analysts forecast that Medallion Financial will post 0.67 earnings per share for the current year.

In other news, insider Donald S. Poulton sold 7,500 shares of the business’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $4.67, for a total value of $35,025.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 17.11% of the company’s stock.

Several institutional investors have recently bought and sold shares of MFIN. Gabelli Funds LLC increased its holdings in shares of Medallion Financial by 33.3% in the 4th quarter. Gabelli Funds LLC now owns 100,000 shares of the credit services provider’s stock worth $353,000 after buying an additional 25,000 shares during the last quarter. Second Curve Capital LLC bought a new stake in shares of Medallion Financial in the 4th quarter worth about $424,000. Finally, Stifel Financial Corp increased its holdings in shares of Medallion Financial by 26.9% in the 3rd quarter. Stifel Financial Corp now owns 359,518 shares of the credit services provider’s stock worth $786,000 after buying an additional 76,185 shares during the last quarter. Hedge funds and other institutional investors own 17.23% of the company’s stock.

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Medallion Financial Company Profile

Medallion Financial Corp. is a closed-end, non-diversified management investment company. The Company is a specialty finance company, which is engaged in originating, acquiring and servicing loans that finance taxicab medallions and various types of commercial businesses. The Company operates in lending and investing operations segment.

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