Squarepoint Ops LLC bought a new stake in Medallion Financial Corp. (NASDAQ:MFIN) in the third quarter, Holdings Channel reports. The fund bought 52,284 shares of the credit services provider’s stock, valued at approximately $131,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Stifel Financial Corp grew its position in Medallion Financial by 17.1% in the 2nd quarter. Stifel Financial Corp now owns 387,839 shares of the credit services provider’s stock valued at $1,028,000 after buying an additional 56,625 shares in the last quarter. Bridgeway Capital Management Inc. grew its position in Medallion Financial by 39.7% in the 2nd quarter. Bridgeway Capital Management Inc. now owns 147,344 shares of the credit services provider’s stock valued at $390,000 after buying an additional 41,900 shares in the last quarter. Gratia Capital LLC bought a new position in Medallion Financial in the 2nd quarter valued at about $375,000. Jane Street Group LLC acquired a new stake in Medallion Financial in the 2nd quarter valued at about $179,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Medallion Financial in the 2nd quarter valued at about $126,000. Hedge funds and other institutional investors own 16.68% of the company’s stock.
A number of equities research analysts have weighed in on MFIN shares. Piper Sandler cut their price target on shares of Medallion Financial from $3.50 to $3.00 and set a “neutral” rating for the company in a report on Friday, October 9th. B. Riley reissued a “buy” rating on shares of Medallion Financial in a report on Tuesday, November 24th. Finally, ValuEngine raised shares of Medallion Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, December 25th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $5.80.
Medallion Financial (NASDAQ:MFIN) last announced its earnings results on Saturday, November 7th. The credit services provider reported ($0.97) EPS for the quarter, missing the consensus estimate of $0.11 by ($1.08). Medallion Financial had a negative return on equity of 12.12% and a negative net margin of 26.61%. The firm had revenue of $30.02 million during the quarter, compared to analyst estimates of $33.58 million. Analysts anticipate that Medallion Financial Corp. will post -1.44 earnings per share for the current year.
Medallion Financial Profile
Medallion Financial Corp., through with its subsidiaries, operates as a finance company in the United States. It originates, acquires, and services loans that finance taxi 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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