Medallion Financial (NASDAQ:MFIN) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Medallion Financial Corp. (NASDAQ:MFIN)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.19 and traded as high as $9.75. Medallion Financial shares last traded at $9.53, with a volume of 35,245 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Medallion Financial from a “hold” rating to a “buy” rating in a research report on Saturday.

Medallion Financial Price Performance

The company has a 50-day simple moving average of $8.63 and a two-hundred day simple moving average of $8.20. The stock has a market capitalization of $219.86 million, a price-to-earnings ratio of 5.64 and a beta of 2.12. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.18 and a quick ratio of 1.18.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $77.00 million during the quarter, compared to analyst estimates 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 company posted $0.48 EPS. On average, equities research analysts predict that Medallion Financial Corp. will post 1.48 earnings per share for the current year.

Medallion Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be paid a dividend of $0.11 per share. This is a boost from Medallion Financial’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date is Friday, November 15th. Medallion Financial’s payout ratio is currently 23.67%.

Hedge Funds Weigh In On Medallion Financial

A number of institutional investors and hedge funds have recently bought and sold shares of MFIN. Ridgewood Investments LLC bought a new position in shares of Medallion Financial in the second quarter valued at approximately $38,000. BNP Paribas Financial Markets lifted its position 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 worth $39,000 after purchasing an additional 1,656 shares during the period. Jane Street Group LLC bought a new position in Medallion Financial during the 3rd quarter valued at $117,000. PDT Partners LLC acquired a new position in shares of Medallion Financial during the 3rd quarter valued at $165,000. Finally, Rhumbline Advisers raised its stake 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 worth $186,000 after buying an additional 23,180 shares in the last quarter. 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.