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

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

Medallion Financial Stock Up 3.3 %

Shares of MFIN opened at $9.49 on Friday. The firm has a market cap of $218.92 million, a PE ratio of 5.62 and a beta of 2.09. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.54. The company’s fifty day moving average is $9.61 and its two-hundred day moving average is $8.57. Medallion Financial has a fifty-two week low of $6.48 and a fifty-two week high of $10.50.

Medallion Financial (NASDAQ:MFIN) last issued its earnings results 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 firm had revenue of $77.00 million for 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 last year, the firm earned $0.48 earnings per share. Analysts forecast that Medallion Financial will post 1.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MFIN. Segall Bryant & Hamill LLC purchased a new position in shares of Medallion Financial in the 3rd quarter valued at $1,025,000. Bank of New York Mellon Corp increased its holdings in Medallion Financial by 60.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 140,794 shares of the credit services provider’s stock valued at $1,081,000 after purchasing an additional 52,857 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Medallion Financial by 32.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 213,477 shares of the credit services provider’s stock valued at $1,738,000 after purchasing an additional 51,941 shares during the period. American Century Companies Inc. lifted its stake in shares of 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. Finally, Rhumbline Advisers boosted its position in shares of Medallion Financial by 2,306.5% in the second quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider’s stock worth $186,000 after buying an additional 23,180 shares during the period. 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.