Medallion Financial (NASDAQ:MFIN) Stock Rating Lowered by Zacks Investment Research

Medallion Financial (NASDAQ:MFIN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

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. “

Other analysts also recently issued research reports about the company. Piper Sandler dropped their price target on Medallion Financial from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, October 9th. ValuEngine upgraded Medallion Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 25th. Finally, B. Riley reiterated a “buy” rating on shares of Medallion Financial in a research note on Tuesday, November 24th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Medallion Financial currently has an average rating of “Buy” and an average target price of $6.30.

Medallion Financial stock opened at $5.20 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.06 and a current ratio of 1.06. The business’s 50-day simple moving average is $5.21 and its two-hundred day simple moving average is $3.55. The company has a market cap of $129.03 million, a PE ratio of -3.29 and a beta of 3.08. Medallion Financial has a fifty-two week low of $1.29 and a fifty-two week high of $7.18.

Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings results on Saturday, November 7th. The credit services provider reported ($0.97) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($1.08). The firm had revenue of $30.02 million for the quarter, compared to analysts’ expectations of $33.58 million. Medallion Financial had a negative net margin of 26.61% and a negative return on equity of 12.12%. As a group, analysts predict that Medallion Financial will post -1.44 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC acquired a new position in shares of Medallion Financial in the 3rd quarter valued at about $131,000. Bridgeway Capital Management Inc. raised its holdings in Medallion Financial by 39.7% in the 2nd quarter. Bridgeway Capital Management Inc. now owns 147,344 shares of the credit services provider’s stock worth $390,000 after purchasing an additional 41,900 shares during the period. Jane Street Group LLC acquired a new position in Medallion Financial in the 2nd quarter worth about $179,000. Stifel Financial Corp raised its holdings in Medallion Financial by 17.1% in the 2nd quarter. Stifel Financial Corp now owns 387,839 shares of the credit services provider’s stock worth $1,028,000 after purchasing an additional 56,625 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new position in Medallion Financial in the 2nd quarter worth about $126,000. 16.68% of the stock is owned by institutional investors and hedge funds.

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 taxi 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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