Zacks Investment Research upgraded shares of Medallion Financial (NASDAQ:MFIN) from a strong sell rating to a hold rating in a research note released on Wednesday morning.
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 analysts have also weighed in on MFIN. ValuEngine lowered shares of Medallion Financial from a strong-buy rating to a buy rating in a research note on Thursday, August 2nd. B. Riley initiated coverage on shares of Medallion Financial in a research note on Friday, September 7th. They set a buy rating and a $10.00 target price on the stock. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $8.33.
Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings results on Tuesday, August 14th. The credit services provider reported ($0.32) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.20). The business had revenue of $29.60 million for the quarter. Medallion Financial had a negative return on equity of 8.25% and a negative net margin of 47.96%. As a group, research analysts anticipate that Medallion Financial will post -1.61 EPS for the current fiscal year.
A hedge fund recently bought a new stake in Medallion Financial stock. Ridgewood Investments LLC bought a new position in shares of Medallion Financial Corp (NASDAQ:MFIN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,490 shares of the credit services provider’s stock, valued at approximately $107,000. Ridgewood Investments LLC owned 0.08% of Medallion Financial as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 17.33% of the company’s stock.
About Medallion Financial
Medallion Financial Corp., through with its subsidiaries, operates as a specialty finance company in the United States. It originates, acquires, and services loans that finance taxicab medallions and various types of commercial businesses. The company offers consumer loans for the purchase of recreational vehicles, boats, motorcycles, and trailers, as well as to finance small scale home improvements; and commercial loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business.
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