Medallion Financial (NASDAQ:MFIN) Upgraded at StockNews.com

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

Medallion Financial Price Performance

Shares of NASDAQ:MFIN opened at $9.43 on Monday. Medallion Financial has a 12 month low of $6.34 and a 12 month high of $10.14. The business’s 50 day simple moving average is $8.14 and its 200-day simple moving average is $8.03. The firm has a market capitalization of $218.49 million, a price-to-earnings ratio of 5.24 and a beta of 2.14. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 1.19.

Medallion Financial (NASDAQ:MFIN) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). Medallion Financial had a return on equity of 10.35% and a net margin of 14.97%. The business had revenue of $71.80 million for the quarter, compared to analysts’ expectations of $50.39 million. During the same period last year, the company posted $0.62 earnings per share. As a group, equities analysts forecast that Medallion Financial will post 1.49 earnings per share for the current fiscal year.

Institutional Trading of Medallion Financial

Institutional investors have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC raised its stake in shares of Medallion Financial by 3.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 98,279 shares of the credit services provider’s stock valued at $777,000 after purchasing an additional 3,125 shares in the last quarter. Ritholtz Wealth Management increased its stake in shares of Medallion Financial by 13.2% in the second quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider’s stock valued at $320,000 after purchasing an additional 4,862 shares during the period. Ridgewood Investments LLC acquired a new stake in shares of Medallion Financial in the second quarter valued at approximately $38,000. Fortis Capital Advisors LLC acquired a new stake in shares of Medallion Financial in the first quarter valued at approximately $169,000. Finally, Denali Advisors LLC increased its stake in shares of Medallion Financial by 100.4% in the first quarter. Denali Advisors LLC now owns 44,700 shares of the credit services provider’s stock valued at $354,000 after purchasing an additional 22,400 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.