Medallion Financial (NASDAQ:MFIN) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Medallion Financial (NASDAQ:MFIN) from a hold rating to a buy rating in a research report sent to investors on Monday.

Medallion Financial Stock Performance

Shares of MFIN opened at $9.32 on Monday. The stock has a 50-day moving average of $9.49 and a two-hundred day moving average of $8.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $214.99 million, a P/E ratio of 5.51 and a beta of 2.09. Medallion Financial has a one year low of $6.48 and a one year high of $10.50.

Medallion Financial (NASDAQ:MFIN) last issued its 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. Medallion Financial had a return on equity of 9.52% and a net margin of 13.72%. The firm had revenue of $77.00 million for the quarter, compared to analyst estimates of $52.88 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share. As a group, research analysts predict that Medallion Financial will post 1.46 EPS for the current year.

Institutional Trading of Medallion Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its position in shares of 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 worth $39,000 after acquiring an additional 1,656 shares during the period. Jane Street Group LLC purchased a new position in shares of Medallion Financial in the 3rd quarter valued at about $117,000. PDT Partners LLC acquired a new position in Medallion Financial in the 3rd quarter worth about $165,000. Rhumbline Advisers raised its holdings in Medallion Financial by 2,306.5% in the 2nd quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider’s stock worth $186,000 after purchasing an additional 23,180 shares during the period. Finally, Barclays PLC boosted its position in Medallion Financial by 297.6% during the third quarter. Barclays PLC now owns 26,063 shares of the credit services provider’s stock worth $213,000 after purchasing an additional 19,508 shares in the last quarter. 40.56% of the stock is owned by institutional investors and hedge funds.

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.