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

Medallion Financial (NASDAQ:MFIN) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Medallion Financial Stock Performance

NASDAQ MFIN opened at $9.74 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $225.67 million, a price-to-earnings ratio of 5.76 and a beta of 2.12. The firm’s 50 day simple moving average is $8.44 and its 200 day simple moving average is $8.14. Medallion Financial has a 1 year low of $6.48 and a 1 year high of $10.19.

Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The business had revenue of $77.00 million for the quarter, compared to analyst estimates of $52.88 million. Medallion Financial had a net margin of 13.72% and a return on equity of 9.59%. During the same quarter last year, the business posted $0.48 EPS. As a group, research analysts expect that Medallion Financial will post 1.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Medallion Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC bought a new position in Medallion Financial in the 2nd quarter valued at approximately $38,000. Fortis Capital Advisors LLC bought a new position in Medallion Financial in the 1st quarter valued at approximately $169,000. Rhumbline Advisers lifted its stake in Medallion Financial by 2,306.5% in the 2nd quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider’s stock valued at $186,000 after purchasing an additional 23,180 shares during the last quarter. Ritholtz Wealth Management raised its stake in shares of Medallion Financial by 13.2% during the second quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider’s stock valued at $320,000 after acquiring an additional 4,862 shares during the last quarter. Finally, Panagora Asset Management Inc. acquired a new position in shares of Medallion Financial during the second quarter worth $462,000. Institutional investors own 40.56% of the company’s stock.

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.