StockNews.com downgraded shares of Medallion Financial (NASDAQ:MFIN – Free Report) from a buy rating to a hold rating in a research note published on Friday morning.
Medallion Financial Price Performance
NASDAQ MFIN traded down $0.04 on Friday, reaching $7.90. The company’s stock had a trading volume of 44,005 shares, compared to its average volume of 108,463. The firm has a market cap of $184.68 million, a PE ratio of 3.73 and a beta of 2.17. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.54. Medallion Financial has a 52 week low of $6.28 and a 52 week high of $10.14. The business has a 50-day moving average price of $7.99 and a 200 day moving average price of $8.21.
Medallion Financial (NASDAQ:MFIN – Get Free Report) last released its quarterly earnings data 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). The company had revenue of $71.80 million during the quarter, compared to the consensus estimate of $50.39 million. Medallion Financial had a net margin of 14.97% and a return on equity of 10.44%. During the same quarter in the prior year, the company posted $0.62 earnings per share. Sell-side analysts expect that Medallion Financial will post 1.48 EPS for the current year.
Medallion Financial Dividend Announcement
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of MFIN. American Century Companies Inc. raised its position in Medallion Financial by 30.6% in the 2nd quarter. American Century Companies Inc. now owns 187,408 shares of the credit services provider’s stock valued at $1,439,000 after purchasing an additional 43,917 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Medallion Financial by 60.1% during 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 in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Medallion Financial by 3.3% during the 1st 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 last quarter. Panagora Asset Management Inc. bought a new stake in Medallion Financial during the 2nd quarter worth about $462,000. Finally, Denali Advisors LLC increased its position in Medallion Financial by 100.4% in the 1st quarter. Denali Advisors LLC now owns 44,700 shares of the credit services provider’s stock valued at $354,000 after acquiring an additional 22,400 shares in the last quarter. 40.56% of the stock is owned by institutional investors and hedge funds.
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.
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