Medallion Financial (NASDAQ:MFIN) Upgraded at Zacks Research

Medallion Financial (NASDAQ:MFIN) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Separately, Weiss Ratings lowered shares of Medallion Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $12.00.

Medallion Financial Price Performance

Shares of MFIN opened at $9.42 on Monday. The firm has a market cap of $221.65 million, a PE ratio of 5.29 and a beta of 0.84. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $9.38 and a two-hundred day simple moving average of $9.84. Medallion Financial has a 1-year low of $7.85 and a 1-year high of $11.00.

Medallion Financial (NASDAQ:MFIN) last announced its earnings results on Wednesday, February 18th. The credit services provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. The business had revenue of $55.92 million during the quarter, compared to analyst estimates of $56.20 million. Medallion Financial had a net margin of 12.18% and a return on equity of 9.38%. On average, equities analysts anticipate that Medallion Financial will post 1.43 EPS for the current year.

Institutional Investors Weigh In On Medallion Financial

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of Medallion Financial by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 406,754 shares of the credit services provider’s stock valued at $4,186,000 after acquiring an additional 6,458 shares during the period. Uniplan Investment Counsel Inc. grew its position in shares of Medallion Financial by 34.5% during the 4th quarter. Uniplan Investment Counsel Inc. now owns 340,123 shares of the credit services provider’s stock valued at $3,500,000 after acquiring an additional 87,321 shares during the period. State Street Corp grew its position in shares of Medallion Financial by 1.0% during the 4th quarter. State Street Corp now owns 243,509 shares of the credit services provider’s stock valued at $2,506,000 after acquiring an additional 2,462 shares during the period. De Lisle Partners LLP grew its position in shares of Medallion Financial by 40.4% during the 4th quarter. De Lisle Partners LLP now owns 180,079 shares of the credit services provider’s stock valued at $1,851,000 after acquiring an additional 51,822 shares during the period. Finally, Bridgeway Capital Management LLC grew its position in shares of Medallion Financial by 3.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 162,283 shares of the credit services provider’s stock valued at $1,670,000 after acquiring an additional 5,374 shares during the period. Institutional investors own 40.56% of the company’s stock.

About Medallion Financial

Medallion Financial Corporation is a specialty finance company that provides asset-based lending solutions to small and mid-sized businesses in the United States. The company’s core business activities include secured loans collateralized by business assets such as insurance premiums, commercial real estate, maritime assets and portfolio receivables. Through its insurance premium finance division, Medallion offers short-term loans that allow policyholders to spread insurance costs over multiple payments, while its portfolio financing arm provides funding against a borrower’s existing asset portfolios.

Founded in 1998 and headquartered in Minneapolis, Minnesota, Medallion Financial originally established itself in the taxi medallion lending market, extending loans secured by New York City cab medallions.