Medallion Financial (NASDAQ:MFIN) Lifted to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Medallion Financial (NASDAQ:MFIN) from a sell rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “Medallion Financial Corp. is a specialty finance company that originates and services loans that finance taxicab medallions and various types of commercial loans. “

Other analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Welbilt from a hold rating to a sell rating in a report on Wednesday, June 12th. Northland Securities reiterated a buy rating and issued a $12.00 target price on shares of Medallion Financial in a report on Tuesday, May 7th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $10.67.

MFIN stock opened at $6.29 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.12 and a current ratio of 1.12. The firm’s 50 day moving average price is $6.56. Medallion Financial has a one year low of $4.07 and a one year high of $7.80.

Medallion Financial (NASDAQ:MFIN) last released its quarterly earnings results on Monday, May 6th. The credit services provider reported $0.05 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 firm had revenue of $29.18 million for the quarter, compared to analyst estimates of $26.71 million. Analysts forecast that Medallion Financial will post 0.42 earnings per share for the current year.

In related news, insider Thomas J. Munson sold 4,248 shares of Medallion Financial stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $7.34, for a total value of $31,180.32. Following the completion of the sale, the insider now owns 17,670 shares in the company, valued at approximately $129,697.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.10% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Quinn Opportunity Partners LLC acquired a new position in shares of Medallion Financial in the first quarter worth $80,000. Deutsche Bank AG grew its stake in shares of Medallion Financial by 93.6% in the fourth quarter. Deutsche Bank AG now owns 35,685 shares of the credit services provider’s stock worth $166,000 after acquiring an additional 17,255 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Medallion Financial in the fourth quarter worth $234,000. Advisor Group Inc. grew its stake in shares of Medallion Financial by 10.1% in the first quarter. Advisor Group Inc. now owns 190,318 shares of the credit services provider’s stock worth $1,313,000 after acquiring an additional 17,494 shares in the last quarter. Finally, Tieton Capital Management LLC acquired a new position in shares of Medallion Financial in the first quarter worth $1,458,000. Hedge funds and other institutional investors own 14.92% of the company’s stock.

About Medallion Financial

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.

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