StockNews.com Upgrades Medallion Financial (NASDAQ:MFIN) to Buy

Medallion Financial (NASDAQ:MFIN) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Medallion Financial Price Performance

MFIN stock opened at $9.53 on Friday. 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 stock has a market cap of $219.86 million, a PE ratio of 5.64 and a beta of 2.12. Medallion Financial has a 12 month low of $6.48 and a 12 month high of $10.19. The company has a 50-day moving average price of $8.63 and a 200 day moving average price of $8.20.

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

Institutional Investors Weigh In On Medallion Financial

A number of large investors have recently made changes to their positions in MFIN. Ridgewood Investments LLC acquired a new stake in shares of Medallion Financial in the second quarter worth $38,000. BNP Paribas Financial Markets boosted its holdings 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 purchasing an additional 1,656 shares during the last quarter. Jane Street Group LLC acquired a new stake in Medallion Financial during the 3rd quarter worth about $117,000. PDT Partners LLC purchased a new position in shares of Medallion Financial during the 3rd quarter valued at about $165,000. Finally, Rhumbline Advisers lifted its holdings in shares of Medallion Financial by 2,306.5% in the 2nd quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider’s stock valued at $186,000 after buying an additional 23,180 shares during the period. 40.56% of the stock is owned by hedge funds and other institutional investors.

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.