Medallion Financial (NASDAQ:MFIN) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of Medallion Financial Corp. (NASDAQ:MFIN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.62 and traded as high as $10.06. Medallion Financial shares last traded at $10.04, with a volume of 56,991 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Medallion Financial in a research note on Wednesday, October 8th. Wall Street Zen downgraded Medallion Financial from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 11th. Finally, LADENBURG THALM/SH SH raised Medallion Financial from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Medallion Financial Price Performance

The firm has a market capitalization of $233.40 million, a PE ratio of 5.70 and a beta of 1.38. The business has a 50-day moving average of $10.32 and a 200 day moving average of $9.62. The company has a current ratio of 1.20, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38.

Medallion Financial (NASDAQ:MFIN) last released its quarterly earnings results on Wednesday, July 30th. The credit services provider reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.16. The business had revenue of $53.37 million during the quarter, compared to analyst estimates of $52.07 million. Medallion Financial had a return on equity of 9.04% and a net margin of 12.62%. As a group, research analysts anticipate that Medallion Financial Corp. will post 1.46 EPS for the current fiscal year.

Medallion Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.48 annualized dividend and a dividend yield of 4.8%. Medallion Financial’s dividend payout ratio is currently 27.27%.

Hedge Funds Weigh In On Medallion Financial

Several institutional investors have recently modified their holdings of MFIN. Ritholtz Wealth Management grew its holdings in shares of Medallion Financial by 8.3% in the first quarter. Ritholtz Wealth Management now owns 62,366 shares of the credit services provider’s stock valued at $543,000 after acquiring an additional 4,782 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Medallion Financial by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 126,625 shares of the credit services provider’s stock valued at $1,103,000 after acquiring an additional 1,258 shares in the last quarter. Nuveen LLC bought a new position in shares of Medallion Financial in the first quarter valued at approximately $164,000. Hsbc Holdings PLC bought a new position in shares of Medallion Financial in the first quarter valued at approximately $161,000. Finally, MetLife Investment Management LLC grew 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 valued at $99,000 after acquiring an additional 2,293 shares in the last quarter. 40.56% of the stock is owned by institutional investors.

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.