Medallion Financial (NASDAQ:MFIN) Rating Lowered to Hold at StockNews.com

Medallion Financial (NASDAQ:MFIN) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Medallion Financial Stock Performance

Shares of MFIN traded up $0.17 during mid-day trading on Tuesday, reaching $9.58. 30,098 shares of the company’s stock traded hands, compared to its average volume of 88,229. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 1.18. The business’s 50-day moving average price is $9.53 and its 200-day moving average price is $8.50. The stock has a market capitalization of $220.99 million, a P/E ratio of 5.67 and a beta of 2.11. Medallion Financial has a 12 month low of $6.48 and a 12 month high of $10.50.

Medallion Financial (NASDAQ:MFIN) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Medallion Financial had a return on equity of 9.52% and a net margin of 13.72%. The firm had revenue of $77.00 million for the quarter, compared to the consensus estimate of $52.88 million. During the same quarter in the previous year, the business earned $0.48 EPS. Equities analysts predict that Medallion Financial will post 1.48 earnings per share for the current year.

Institutional Trading of Medallion Financial

Institutional investors have recently made changes to their positions in the stock. Barclays PLC increased its position in shares of Medallion Financial by 297.6% during the 3rd quarter. Barclays PLC now owns 26,063 shares of the credit services provider’s stock valued at $213,000 after purchasing an additional 19,508 shares during the period. Soltis Investment Advisors LLC grew its holdings in Medallion Financial by 7.4% during the third quarter. Soltis Investment Advisors LLC now owns 58,294 shares of the credit services provider’s stock worth $475,000 after acquiring an additional 4,002 shares during the period. Geode Capital Management LLC grew its holdings in Medallion Financial by 2.4% during the third quarter. Geode Capital Management LLC now owns 416,956 shares of the credit services provider’s stock worth $3,394,000 after acquiring an additional 9,849 shares during the period. Jane Street Group LLC bought a new stake in Medallion Financial in the third quarter worth about $117,000. Finally, State Street Corp lifted its holdings in Medallion Financial by 0.7% in the 3rd quarter. State Street Corp now owns 204,558 shares of the credit services provider’s stock valued at $1,665,000 after acquiring an additional 1,333 shares during the last quarter. 40.56% of the stock is owned by institutional investors and hedge funds.

About Medallion Financial

Medallion Financial Corp., together with its subsidiaries, operates as a specialty finance company in the United States. It operates in four segments: Recreation Lending, Home Improvement Lending, Commercial Lending, and Taxi Medallion Lending. The company offers loans that finance consumer purchases of recreational vehicles, boats, and other consumer recreational equipment; consumer financing for window, siding, and roof replacement, swimming pool installations, and other home improvement projects; senior and subordinated loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business; and taxi medallion loans to individuals and small to mid-size businesses.