Medallion Financial (NASDAQ:MFIN) Upgraded at StockNews.com

StockNews.com upgraded shares of Medallion Financial (NASDAQ:MFIN) from a hold rating to a buy rating in a report issued on Monday.

Medallion Financial Stock Up 0.7 %

MFIN opened at $9.54 on Monday. The stock has a market capitalization of $220.09 million, a P/E ratio of 5.64 and a beta of 2.09. 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 has a one year low of $6.48 and a one year high of $10.50. The business’s 50-day simple moving average is $9.49 and its 200-day simple moving average is $8.77.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $77.00 million during the quarter, compared to analysts’ expectations of $52.88 million. Medallion Financial had a return on equity of 9.52% and a net margin of 13.72%. During the same quarter in the previous year, the business earned $0.48 earnings per share. Analysts anticipate that Medallion Financial will post 1.46 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MFIN. Geode Capital Management LLC boosted its stake in shares of 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 buying an additional 9,849 shares during the period. Stifel Financial Corp lifted its holdings in Medallion Financial by 4.2% in the third quarter. Stifel Financial Corp now owns 272,949 shares of the credit services provider’s stock valued at $2,222,000 after acquiring an additional 10,974 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Medallion Financial by 32.2% during the third 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 in the last quarter. State Street Corp boosted its stake 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 acquiring an additional 1,333 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Medallion Financial by 30.6% during the second quarter. American Century Companies Inc. now owns 187,408 shares of the credit services provider’s stock worth $1,439,000 after purchasing an additional 43,917 shares in the last quarter. 40.56% of the stock is owned by hedge funds and other institutional investors.

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.