Medallion Financial (NASDAQ:MFIN – Get Free Report) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.
Separately, Weiss Ratings downgraded Medallion Financial from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.00.
Get Our Latest Research Report on MFIN
Medallion Financial Stock Up 1.4%
Medallion Financial (NASDAQ:MFIN – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The credit services provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.05). Medallion Financial had a net margin of 10.35% and a return on equity of 7.73%. The business had revenue of $79.07 million for the quarter, compared to analysts’ expectations of $56.15 million. Sell-side analysts anticipate that Medallion Financial will post 1.12 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in MFIN. Sei Investments Co. grew its holdings in shares of Medallion Financial by 124.0% during the 1st quarter. Sei Investments Co. now owns 490,972 shares of the credit services provider’s stock worth $4,203,000 after acquiring an additional 271,789 shares during the period. Uniplan Investment Counsel Inc. grew its holdings 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 worth $3,500,000 after acquiring an additional 87,321 shares during the period. Mariner LLC purchased a new position in shares of Medallion Financial during the 4th quarter worth approximately $739,000. Teton Advisors LLC purchased a new position in shares of Medallion Financial during the 3rd quarter worth approximately $606,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Medallion Financial by 83.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 129,949 shares of the credit services provider’s stock worth $1,337,000 after acquiring an additional 59,130 shares during the period. Hedge funds and other institutional investors own 40.56% of the company’s stock.
Medallion Financial Company Profile
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.
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