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

StockNews.com upgraded shares of Medallion Financial (NASDAQ:MFIN) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

Medallion Financial Price Performance

Shares of NASDAQ MFIN opened at $8.81 on Wednesday. The firm has a market cap of $203.25 million, a PE ratio of 5.21 and a beta of 2.07. 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 has a 1-year low of $6.48 and a 1-year high of $10.50. The company has a fifty day moving average price of $9.44 and a 200 day moving average price of $8.80.

Hedge Funds Weigh In On Medallion Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its stake in Medallion Financial by 52.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,820 shares of the credit services provider’s stock worth $39,000 after purchasing an additional 1,656 shares during the period. Jane Street Group LLC bought a new stake in Medallion Financial during the 3rd quarter worth about $117,000. Raymond James Financial Inc. bought a new stake in Medallion Financial during the 4th quarter worth about $150,000. PDT Partners LLC bought a new stake in Medallion Financial during the 3rd quarter worth about $165,000. Finally, Empowered Funds LLC lifted its position in Medallion Financial by 56.1% during the 4th quarter. Empowered Funds LLC now owns 25,381 shares of the credit services provider’s stock worth $238,000 after buying an additional 9,121 shares in the last quarter. 40.56% of the stock is owned by institutional investors and hedge funds.

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.