Zacks Investment Research Upgrades Medallion Financial (NASDAQ:MFIN) to Hold

Zacks Investment Research upgraded shares of Medallion Financial (NASDAQ:MFIN) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning, 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. “

A number of other equities research analysts have also recently commented on the stock. Northland Securities reaffirmed a buy rating and issued a $12.00 target price on shares of Medallion Financial in a report on Tuesday, May 7th. ValuEngine cut shares of Welbilt from a hold rating to a sell rating in a report on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Medallion Financial has a consensus rating of Buy and an average price target of $10.67.

Shares of NASDAQ:MFIN opened at $6.29 on Wednesday. The company has a 50-day simple moving average of $6.56. Medallion Financial has a one year low of $4.07 and a one year high of $7.80. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.12 and a quick ratio of 1.12.

Medallion Financial (NASDAQ:MFIN) last announced its earnings results on Monday, May 6th. The credit services provider reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. Medallion Financial had a negative net margin of 5.09% and a negative return on equity of 3.12%. The business had revenue of $29.18 million during the quarter, compared to analysts’ expectations of $26.71 million. As a group, sell-side analysts predict that Medallion Financial will post 0.42 EPS for the current year.

In other news, insider Thomas J. Munson sold 4,248 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $7.34, for a total value of $31,180.32. Following the completion of the sale, the insider now directly owns 17,670 shares of the company’s stock, valued at $129,697.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 17.10% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quinn Opportunity Partners LLC purchased a new position in Medallion Financial during the first quarter worth about $80,000. Deutsche Bank AG raised its holdings in Medallion Financial by 93.6% during the fourth quarter. Deutsche Bank AG now owns 35,685 shares of the credit services provider’s stock worth $166,000 after purchasing an additional 17,255 shares in the last quarter. Millennium Management LLC purchased a new position in Medallion Financial during the fourth quarter worth about $234,000. Advisor Group Inc. raised its holdings in Medallion Financial by 10.1% during the first quarter. Advisor Group Inc. now owns 190,318 shares of the credit services provider’s stock worth $1,313,000 after purchasing an additional 17,494 shares in the last quarter. Finally, Tieton Capital Management LLC purchased a new position in Medallion Financial during the first quarter worth about $1,458,000. 14.92% of the stock is owned by hedge funds and other institutional investors.

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 taxicab 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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