Medallion Financial (NASDAQ:MFIN) Stock Rating Lowered by 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 note issued to investors on Tuesday.

Medallion Financial Stock Performance

Medallion Financial stock opened at $9.58 on Tuesday. Medallion Financial has a twelve month low of $6.48 and a twelve month high of $10.50. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $220.99 million, a P/E ratio of 5.67 and a beta of 2.11. The stock’s 50 day moving average is $9.55 and its 200 day moving average is $8.51.

Medallion Financial (NASDAQ:MFIN) last released 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. The firm had revenue of $77.00 million for the quarter, compared to analysts’ expectations of $52.88 million. Medallion Financial had a return on equity of 9.52% and a net margin of 13.72%. During the same period in the prior year, the firm posted $0.48 earnings per share. On average, equities research analysts predict that Medallion Financial will post 1.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Medallion Financial

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Medallion Financial by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 416,956 shares of the credit services provider’s stock worth $3,394,000 after purchasing an additional 9,849 shares in the last quarter. Stifel Financial Corp increased its holdings in Medallion Financial by 4.2% in the 3rd quarter. Stifel Financial Corp now owns 272,949 shares of the credit services provider’s stock worth $2,222,000 after buying an additional 10,974 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Medallion Financial by 32.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 213,477 shares of the credit services provider’s stock worth $1,738,000 after buying an additional 51,941 shares during the last quarter. State Street Corp boosted its holdings in shares of Medallion Financial by 0.7% during 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. Finally, American Century Companies Inc. grew its stake in shares of Medallion Financial by 30.6% in the second quarter. American Century Companies Inc. now owns 187,408 shares of the credit services provider’s stock worth $1,439,000 after acquiring an additional 43,917 shares during the period. 40.56% of the stock is currently owned by hedge funds and other institutional investors.

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.