Medallion Financial (NASDAQ:MFIN – Get Free Report)‘s stock had its “neutral” rating reiterated by investment analysts at Piper Sandler in a note issued to investors on Wednesday, Benzinga reports. They presently have a $10.00 price objective on the credit services provider’s stock, down from their previous price objective of $12.00. Piper Sandler‘s target price indicates a potential upside of 6.83% from the company’s current price.
MFIN has been the subject of a number of other reports. Weiss Ratings downgraded shares of Medallion Financial from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, November 4th. UBS Group restated a “neutral” rating on shares of Medallion Financial in a research report on Friday, October 2nd. Northland Securities set a $13.25 price objective on shares of Medallion Financial in a research note on Wednesday, October 14th. Zacks Research downgraded shares of Medallion Financial from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 5th. Finally, LADENBURG THALM/SH SH lowered shares of Medallion Financial from a “buy” rating to a “neutral” rating in a research note on Friday, October 30th. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $11.62.
View Our Latest Report on MFIN
Medallion Financial Stock Down 0.6%
MFIN opened at $9.36 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.22 and a current ratio of 1.23. The company has a market capitalization of $209.97 million, a PE ratio of 8.49 and a beta of 0.80. The stock’s fifty day moving average is $11.46 and its 200-day moving average is $10.28. Medallion Financial has a one year low of $7.85 and a one year high of $12.26.
Medallion Financial (NASDAQ:MFIN – Get Free Report) last announced its earnings results on Thursday, October 29th. The credit services provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.22). The firm had revenue of $88.89 million for the quarter, compared to the consensus estimate of $63.54 million. Medallion Financial had a net margin of 7.53% and a return on equity of 5.21%. On average, equities analysts predict that Medallion Financial will post 0.90 EPS for the current fiscal year.
Hedge Funds Weigh In On Medallion Financial
A number of hedge funds have recently modified their holdings of the stock. Stephens Inc. AR acquired a new stake in shares of Medallion Financial during the first quarter worth $96,000. Vise Technologies Inc. acquired a new position in shares of Medallion Financial in the 2nd quarter valued at $110,000. Allworth Financial LP acquired a new position in shares of Medallion Financial in the 2nd quarter valued at $164,000. Russell Investments Group Ltd. boosted its position in shares of Medallion Financial by 24.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 15,136 shares of the credit services provider’s stock valued at $180,000 after purchasing an additional 2,930 shares during the period. Finally, PDT Partners LLC purchased a new position in Medallion Financial in the 2nd quarter worth about $185,000. 40.56% of the stock is currently owned by institutional investors and hedge funds.
About Medallion Financial
Medallion Financial Corp. is a specialty finance company that originates and services loans for taxi medallion owners and operators. Its lending activities have historically focused on financing the purchase and refinancing of taxi medallions, as well as providing loans secured by related commercial assets. Through its subsidiaries, including Medallion Bank, the company also participates in consumer and commercial lending. Medallion Bank has offered financing for recreational vehicles, boats, home-improvement projects and other consumer purchases, while the company’s broader lending operations serve small businesses and transportation-related borrowers.
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