Medallion Financial (NASDAQ:MFIN) Stock Passes Above Two Hundred Day Moving Average of $8.03

Shares of Medallion Financial Corp. (NASDAQ:MFIN) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.03 and traded as high as $8.13. Medallion Financial shares last traded at $8.00, with a volume of 68,635 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Medallion Financial from a “buy” rating to a “hold” rating in a report on Friday, August 9th.

Medallion Financial Price Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a market cap of $185.36 million, a PE ratio of 3.77 and a beta of 2.17. The stock has a 50 day simple moving average of $7.90 and a two-hundred day simple moving average of $8.03.

Medallion Financial (NASDAQ:MFIN) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.03). Medallion Financial had a net margin of 14.97% and a return on equity of 10.35%. The company had revenue of $71.80 million for the quarter, compared to analysts’ expectations of $50.39 million. During the same quarter in the prior year, the business posted $0.62 earnings per share. Sell-side analysts expect that Medallion Financial Corp. will post 1.48 earnings per share for the current year.

Medallion Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend is Thursday, August 15th. Medallion Financial’s dividend payout ratio is currently 18.87%.

Institutional Trading of Medallion Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MFIN. O Shaughnessy Asset Management LLC raised its position in shares of Medallion Financial by 3.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 98,279 shares of the credit services provider’s stock worth $777,000 after acquiring an additional 3,125 shares during the period. Ritholtz Wealth Management increased its stake in shares of Medallion Financial by 13.2% in the 2nd quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider’s stock valued at $320,000 after purchasing an additional 4,862 shares in the last quarter. Ridgewood Investments LLC acquired a new position in Medallion Financial in the 2nd quarter worth about $38,000. AJOVista LLC purchased a new position in Medallion Financial during the fourth quarter worth approximately $90,000. Finally, Jump Financial LLC purchased a new position in Medallion Financial during the fourth quarter worth approximately $161,000. Institutional investors and hedge funds 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.