Wasatch Advisors Inc. trimmed its holdings in Medallion Financial Corp. (NASDAQ:MFIN) by 25.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,913 shares of the credit services provider’s stock after selling 20,500 shares during the quarter. Wasatch Advisors Inc. owned about 0.25% of Medallion Financial worth $279,000 as of its most recent SEC filing.
Separately, Gabelli Funds LLC boosted its holdings in shares of Medallion Financial by 33.3% in the fourth quarter. Gabelli Funds LLC now owns 100,000 shares of the credit services provider’s stock valued at $353,000 after acquiring an additional 25,000 shares during the period. 15.89% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Donald S. Poulton sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $4.67, for a total transaction of $35,025.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 16.70% of the stock is owned by corporate insiders.
Medallion Financial opened at $3.98 on Tuesday, Marketbeat reports. Medallion Financial Corp. has a 12 month low of $3.82 and a 12 month high of $3.94. The company has a current ratio of 38.01, a quick ratio of 38.01 and a debt-to-equity ratio of 1.14.
Medallion Financial (NASDAQ:MFIN) last released its quarterly earnings results on Monday, May 14th. The credit services provider reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.12). Medallion Financial had a negative return on equity of 2.50% and a net margin of 1.41%. The company had revenue of $0.54 million for the quarter, compared to analysts’ expectations of $4.21 million. analysts expect that Medallion Financial Corp. will post 0.67 EPS for the current year.
Several equities research analysts have recently weighed in on the company. Sandler O’Neill set a $5.00 price objective on Medallion Financial and gave the company a “hold” rating in a report on Tuesday, March 20th. ValuEngine downgraded Medallion Financial from a “hold” rating to a “sell” rating in a report on Friday, April 6th. Northland Securities assumed coverage on Medallion Financial in a report on Thursday, February 15th. They issued an “outperform” rating and a $10.00 price objective for the company. Finally, Zacks Investment Research cut Medallion Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, April 18th.
About Medallion Financial
Medallion Financial Corp., through with its subsidiaries, operates as a specialty 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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