211,275 Shares in Medallion Financial Corp (MFIN) Purchased by Tieton Capital Management LLC
Tieton Capital Management LLC bought a new position in shares of Medallion Financial Corp (NASDAQ:MFIN) in the first quarter, HoldingsChannel.com reports. The firm bought 211,275 shares of the credit services provider’s stock, valued at approximately $1,458,000. Medallion Financial accounts for 1.3% of Tieton Capital Management LLC’s holdings, making the stock its 28th largest holding.
A number of other large investors have also modified their holdings of the business. Morgan Stanley boosted its holdings in shares of Medallion Financial by 25.5% during the 3rd quarter. Morgan Stanley now owns 419,804 shares of the credit services provider’s stock worth $2,792,000 after buying an additional 85,326 shares during the period. B. Riley Financial Inc. boosted its holdings in shares of Medallion Financial by 107.4% during the 4th quarter. B. Riley Financial Inc. now owns 207,350 shares of the credit services provider’s stock worth $972,000 after buying an additional 107,350 shares during the period. Seacliff Capital LLC bought a new stake in shares of Medallion Financial during the 4th quarter worth about $528,000. Millennium Management LLC bought a new stake in shares of Medallion Financial during the 4th quarter worth about $234,000. Finally, Deutsche Bank AG boosted its holdings in shares of Medallion Financial by 93.6% during the 4th quarter. Deutsche Bank AG now owns 35,685 shares of the credit services provider’s stock worth $166,000 after buying an additional 17,255 shares during the period. Hedge funds and other institutional investors own 14.92% of the company’s stock.
Several analysts recently commented on MFIN shares. Zacks Investment Research downgraded shares of Medallion Financial from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 6th. ValuEngine raised shares of Medallion Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, February 22nd. Northland Securities reissued a “buy” rating and issued a $12.00 price objective on shares of Medallion Financial in a report on Monday, April 15th. B. Riley set a $10.00 price objective on shares of Medallion Financial and gave the company a “buy” rating in a report on Thursday, February 28th. Finally, BTIG Research assumed coverage on shares of Medallion Financial in a report on Friday, February 22nd. They issued a “buy” rating and a $10.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $10.67.
Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings data on Monday, May 6th. The credit services provider reported $0.05 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.05. The firm had revenue of $29.18 million during the quarter, compared to the consensus estimate of $26.71 million. Medallion Financial had a negative net margin of 5.09% and a negative return on equity of 3.12%. Equities research analysts predict that Medallion Financial Corp will post 0.42 EPS for the current fiscal year.
In other Medallion Financial news, insider Thomas J. Munson sold 4,248 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $7.34, for a total value of $31,180.32. Following the completion of the sale, the insider now owns 17,670 shares of the company’s stock, valued at approximately $129,697.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.70% of the company’s stock.
Medallion Financial Company Profile
Medallion Financial Corp., through with its subsidiaries, operates as a finance company in the United States. It originates, acquires, and services loans that finance taxicab medallions and various types of commercial businesses. The company offers consumer loans for the purchase of recreational vehicles, boats, motorcycles, and trailers, as well as to finance small scale home improvements; and commercial loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business.
Featured Article: Price-Sales Ratio
Want to see what other hedge funds are holding MFIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medallion Financial Corp (NASDAQ:MFIN).
Receive News & Ratings for Medallion Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medallion Financial and related companies with MarketBeat.com's FREE daily email newsletter.