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

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

Medallion Financial Trading Up 1.8 %

Shares of NASDAQ:MFIN opened at $9.58 on Tuesday. The stock’s 50-day simple moving average is $9.55 and its two-hundred day simple moving average is $8.51. The stock has a market capitalization of $220.99 million, a price-to-earnings ratio of 5.67 and a beta of 2.11. Medallion Financial has a 52-week low of $6.48 and a 52-week high of $10.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 1.18.

Medallion Financial (NASDAQ:MFIN) last posted 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. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. The company had revenue of $77.00 million for the quarter, compared to the consensus estimate of $52.88 million. During the same quarter last year, the firm posted $0.48 earnings per share. Analysts expect that Medallion Financial will post 1.48 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC purchased a new stake in Medallion Financial in the 3rd quarter worth approximately $1,025,000. Stifel Financial Corp increased its stake in shares of Medallion Financial by 4.2% in the third quarter. Stifel Financial Corp now owns 272,949 shares of the credit services provider’s stock worth $2,222,000 after purchasing an additional 10,974 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Medallion Financial by 52.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,820 shares of the credit services provider’s stock valued at $39,000 after buying an additional 1,656 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Medallion Financial by 60.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 140,794 shares of the credit services provider’s stock worth $1,081,000 after buying an additional 52,857 shares during the period. Finally, Ritholtz Wealth Management increased its stake in Medallion Financial by 13.2% in the 2nd quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider’s stock worth $320,000 after buying an additional 4,862 shares in the last quarter. 40.56% of the stock is owned by hedge funds and other institutional investors.

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.