Medallion Financial (NASDAQ:MFIN) Cut to Hold at StockNews.com

Medallion Financial (NASDAQ:MFIN) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Medallion Financial Stock Performance

Medallion Financial stock traded up $0.24 during midday trading on Thursday, reaching $8.13. 78,233 shares of the company’s stock were exchanged, compared to its average volume of 113,090. Medallion Financial has a 52 week low of $6.28 and a 52 week high of $10.49. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a market cap of $190.08 million, a price-to-earnings ratio of 3.83 and a beta of 2.16. The stock’s 50-day simple moving average is $7.96 and its 200 day simple moving average is $8.48.

Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07. Medallion Financial had a return on equity of 12.32% and a net margin of 17.96%. The business had revenue of $53.32 million during the quarter, compared to analysts’ expectations of $50.36 million. On average, analysts expect that Medallion Financial will post 1.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Medallion Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Citigroup Inc. bought a new stake in shares of Medallion Financial during the third quarter worth approximately $375,000. Denali Advisors LLC boosted its holdings in shares of Medallion Financial by 100.4% during the first quarter. Denali Advisors LLC now owns 44,700 shares of the credit services provider’s stock worth $354,000 after acquiring an additional 22,400 shares during the period. Fortis Capital Advisors LLC bought a new stake in shares of Medallion Financial during the first quarter worth approximately $169,000. Jump Financial LLC bought a new stake in shares of Medallion Financial during the fourth quarter worth approximately $161,000. Finally, AJOVista LLC bought a new stake in shares of Medallion Financial during the fourth quarter worth approximately $90,000. Institutional investors own 40.56% of the company’s stock.

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.