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

Medallion Financial (NASDAQ:MFIN) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Medallion Financial Price Performance

NASDAQ:MFIN opened at $9.53 on Friday. The stock has a 50 day moving average of $8.63 and a two-hundred day moving average of $8.20. Medallion Financial has a 12 month low of $6.48 and a 12 month high of $10.19. The firm has a market cap of $219.86 million, a P/E ratio of 5.64 and a beta of 2.12. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $0.37 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $52.88 million. During the same period in the previous year, the business earned $0.48 earnings per share. On average, analysts expect that Medallion Financial will post 1.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in Medallion Financial by 2.4% during the third 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 during the last quarter. Stifel Financial Corp grew its stake in shares of Medallion Financial by 4.2% in the 3rd quarter. Stifel Financial Corp now owns 272,949 shares of the credit services provider’s stock valued at $2,222,000 after buying an additional 10,974 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Medallion Financial by 32.2% during 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 increased 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 worth $1,665,000 after buying an additional 1,333 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Medallion Financial by 30.6% during the 2nd quarter. American Century Companies Inc. now owns 187,408 shares of the credit services provider’s stock valued at $1,439,000 after buying an additional 43,917 shares during the period. 40.56% of the stock is currently owned by institutional investors and hedge funds.

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.