Medallion Financial (NASDAQ:MFIN) Rating Lowered to Hold at ValuEngine

ValuEngine lowered shares of Medallion Financial (NASDAQ:MFIN) from a buy rating to a hold rating in a research note published on Wednesday, ValuEngine reports.

A number of other research firms also recently weighed in on MFIN. Zacks Investment Research downgraded shares of Medallion Financial from a hold rating to a sell rating in a research report on Friday, May 10th. Northland Securities reissued a buy rating and set a $12.00 price target on shares of Medallion Financial in a research report on Tuesday, May 7th. B. Riley set a $10.00 price target on shares of Medallion Financial and gave the stock a buy rating in a research report on Thursday, February 28th. Finally, BTIG Research assumed coverage on shares of Medallion Financial in a research report on Friday, February 22nd. They set a buy rating and a $10.00 price target for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Medallion Financial currently has an average rating of Buy and an average target price of $10.67.

Shares of NASDAQ:MFIN opened at $6.39 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.12 and a quick ratio of 1.12. Medallion Financial has a 52-week low of $4.07 and a 52-week high of $7.80. The company has a market capitalization of $160.88 million, a price-to-earnings ratio of -11.83 and a beta of 1.60.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings data on Monday, May 6th. The credit services provider reported $0.05 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. Medallion Financial had a negative net margin of 5.09% and a negative return on equity of 3.12%. The company had revenue of $29.18 million during the quarter, compared to the consensus estimate of $26.71 million. On average, analysts anticipate that Medallion Financial will post 0.42 EPS for the current fiscal year.

In other news, insider Thomas J. Munson sold 4,248 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $7.34, for a total transaction of $31,180.32. Following the completion of the sale, the insider now owns 17,670 shares of the company’s stock, valued at $129,697.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 16.70% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Morgan Stanley lifted its stake in Medallion Financial by 64.5% during the first quarter. Morgan Stanley now owns 580,772 shares of the credit services provider’s stock worth $4,008,000 after purchasing an additional 227,615 shares during the last quarter. Wellington Management Group LLP bought a new position in Medallion Financial during the first quarter worth $2,718,000. Tieton Capital Management LLC bought a new position in Medallion Financial during the first quarter worth $1,458,000. B. Riley Financial Inc. lifted its stake in Medallion Financial by 107.4% during the fourth quarter. B. Riley Financial Inc. now owns 207,350 shares of the credit services provider’s stock worth $972,000 after purchasing an additional 107,350 shares during the last quarter. Finally, Advisor Group Inc. lifted its stake in Medallion Financial by 10.1% during the first quarter. Advisor Group Inc. now owns 190,318 shares of the credit services provider’s stock worth $1,313,000 after purchasing an additional 17,494 shares during the last quarter. Hedge funds and other institutional investors own 14.92% of the company’s stock.

Medallion Financial Company Profile

Medallion Financial Corp., through with its subsidiaries, operates as a finance company in the United States. It originates, acquires, and services loans that finance taxicab medallions and various types of commercial businesses. The company offers consumer loans for the purchase of recreational vehicles, boats, motorcycles, and trailers, as well as to finance small scale home improvements; and commercial loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business.

Read More: What is diluted earnings per share (Diluted EPS)?

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