StockNews.com Downgrades Medallion Financial (NASDAQ:MFIN) to Hold

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 on Tuesday.

Medallion Financial Stock Up 1.8 %

MFIN stock traded up $0.17 during trading on Tuesday, reaching $9.58. The stock had a trading volume of 30,098 shares, compared to its average volume of 88,229. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54. The firm has a fifty day moving average price of $9.53 and a 200 day moving average price of $8.50. The company 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 1-year low of $6.48 and a 1-year high of $10.50.

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

Institutional Trading of Medallion Financial

Several institutional investors have recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of 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 buying an additional 1,333 shares during the period. BNP Paribas Financial Markets boosted its stake in Medallion Financial by 52.3% in the third quarter. BNP Paribas Financial Markets now owns 4,820 shares of the credit services provider’s stock valued at $39,000 after acquiring an additional 1,656 shares during the period. Soltis Investment Advisors LLC raised its position in shares of Medallion Financial by 7.4% during the 3rd quarter. Soltis Investment Advisors LLC now owns 58,294 shares of the credit services provider’s stock worth $475,000 after purchasing an additional 4,002 shares during the period. Ritholtz Wealth Management raised its position in shares of Medallion Financial by 13.2% during the 2nd quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider’s stock worth $320,000 after purchasing an additional 4,862 shares during the period. Finally, Ridgewood Investments LLC acquired a new position in Medallion Financial during the 2nd quarter valued at approximately $38,000. Institutional investors own 40.56% of the company’s stock.

Medallion Financial Company Profile

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.