Medallion Financial (NASDAQ:MFIN) Lifted to Hold at Zacks Investment Research
According to Zacks, “Medallion Financial Corp. is a specialty finance company that originates and services loans that finance taxicab medallions and various types of commercial loans. “
A number of other brokerages also recently weighed in on MFIN. Northland Securities reiterated a buy rating and set a $12.00 price target on shares of Medallion Financial in a report on Tuesday, May 7th. B. Riley set a $10.00 price target on Medallion Financial and gave the company a buy rating in a report on Thursday, February 28th. ValuEngine upgraded Medallion Financial from a buy rating to a strong-buy rating in a report on Monday, April 1st. Finally, BTIG Research began coverage on Medallion Financial in a report on Friday, February 22nd. They set a buy rating and a $10.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Medallion Financial currently has a consensus rating of Buy and an average target price of $10.67.
Medallion Financial (NASDAQ:MFIN) last issued its earnings results on Monday, May 6th. The credit services provider reported $0.05 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.05. Medallion Financial had a negative return on equity of 3.12% and a negative net margin of 5.09%. The business had revenue of $29.18 million for the quarter, compared to analysts’ expectations of $26.71 million. On average, equities research analysts predict that Medallion Financial will post 0.42 earnings per share for the current year.
In other news, insider Thomas J. Munson sold 4,248 shares of Medallion Financial stock in a transaction on Friday, May 17th. The stock was sold at an average price of $7.34, for a total transaction of $31,180.32. Following the transaction, the insider now owns 17,670 shares in the company, valued at $129,697.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 16.70% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Quinn Opportunity Partners LLC purchased a new position in Medallion Financial in the first quarter valued at about $80,000. Deutsche Bank AG grew its stake in Medallion Financial by 93.6% in the fourth quarter. Deutsche Bank AG now owns 35,685 shares of the credit services provider’s stock valued at $166,000 after purchasing an additional 17,255 shares in the last quarter. Millennium Management LLC purchased a new position in Medallion Financial in the fourth quarter valued at about $234,000. Seacliff Capital LLC purchased a new position in Medallion Financial in the fourth quarter valued at about $528,000. Finally, Advisor Group Inc. lifted its position in shares of Medallion Financial by 10.1% in the first quarter. Advisor Group Inc. now owns 190,318 shares of the credit services provider’s stock worth $1,313,000 after buying an additional 17,494 shares during the last quarter. Institutional investors and hedge funds own 14.92% of the company’s stock.
About Medallion Financial
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.
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