Medallion Financial (NASDAQ:MFIN) Rating Increased to Strong-Buy at Zacks Research

Medallion Financial (NASDAQ:MFIN) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

MFIN has been the topic of several other reports. LADENBURG THALM/SH SH upgraded Medallion Financial from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Thursday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Medallion Financial in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Medallion Financial from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $12.00.

Medallion Financial Stock Up 1.7%

Shares of NASDAQ MFIN opened at $10.06 on Monday. Medallion Financial has a 12-month low of $7.71 and a 12-month high of $10.98. The company has a market cap of $233.86 million, a P/E ratio of 5.88 and a beta of 1.39. The company has a current ratio of 1.20, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38. The stock has a fifty day moving average price of $10.19 and a 200 day moving average price of $9.79.

Medallion Financial (NASDAQ:MFIN) last issued its earnings results on Wednesday, October 29th. The credit services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.17. The company had revenue of $55.69 million during the quarter, compared to the consensus estimate of $53.76 million. Medallion Financial had a return on equity of 9.40% and a net margin of 12.12%. Research analysts anticipate that Medallion Financial will post 1.46 EPS for the current fiscal year.

Institutional Trading of Medallion Financial

Several large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its stake in shares of Medallion Financial by 533.1% in the second quarter. Tower Research Capital LLC TRC now owns 6,280 shares of the credit services provider’s stock worth $60,000 after purchasing an additional 5,288 shares in the last quarter. Osaic Holdings Inc. acquired a new stake in shares of Medallion Financial during the 2nd quarter valued at $76,000. Baron Wealth Management LLC acquired a new stake in shares of Medallion Financial during the second quarter worth $103,000. MetLife Investment Management LLC boosted its holdings in shares of Medallion Financial by 25.4% in the first quarter. MetLife Investment Management LLC now owns 11,311 shares of the credit services provider’s stock worth $99,000 after buying an additional 2,293 shares during the period. Finally, Allworth Financial LP purchased a new stake in shares of Medallion Financial in the 2nd quarter valued at approximately $152,000. 40.56% of the stock is currently 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.