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

StockNews.com downgraded shares of Medallion Financial (NASDAQ:MFIN) 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) 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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 5.06%. The ex-dividend date is Thursday, August 15th. Medallion Financial’s payout ratio is 18.87%.

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.