Medallion Financial (NASDAQ:MFIN) Upgraded to Buy at StockNews.com

Medallion Financial (NASDAQ:MFIN) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Medallion Financial Trading Down 3.9 %

Shares of Medallion Financial stock traded down $0.32 on Thursday, hitting $7.97. The stock had a trading volume of 146,170 shares, compared to its average volume of 109,832. The stock has a 50 day moving average of $8.03 and a 200 day moving average of $8.30. The firm has a market capitalization of $186.34 million, a P/E ratio of 3.76 and a beta of 2.16. Medallion Financial has a twelve month low of $6.28 and a twelve month high of $10.49. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.20 and a current ratio of 1.20.

Medallion Financial (NASDAQ:MFIN) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.03). The business had revenue of $71.80 million during the quarter, compared to analyst estimates of $50.39 million. Medallion Financial had a net margin of 14.97% and a return on equity of 10.44%. During the same quarter last year, the company posted $0.62 earnings per share. Sell-side analysts expect that Medallion Financial will post 1.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Medallion Financial

A number of institutional investors have recently modified their holdings of the company. Denali Advisors LLC lifted its position in shares of Medallion Financial by 100.4% during the 1st quarter. Denali Advisors LLC now owns 44,700 shares of the credit services provider’s stock valued at $354,000 after acquiring an additional 22,400 shares during the period. Jump Financial LLC acquired a new position in shares of Medallion Financial during the fourth quarter valued at about $161,000. AJOVista LLC bought a new position in shares of Medallion Financial during the 4th quarter worth about $90,000. O Shaughnessy Asset Management LLC grew its stake in shares of Medallion Financial by 3.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 98,279 shares of the credit services provider’s stock valued at $777,000 after buying an additional 3,125 shares during the period. Finally, Fortis Capital Advisors LLC bought a new stake in Medallion Financial in the 1st quarter valued at about $169,000. 40.56% of the stock is owned by institutional investors.

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.