Medallion Financial (NASDAQ:MFIN) Posts Quarterly Earnings Results

Medallion Financial (NASDAQ:MFIN) posted its quarterly earnings data on Thursday. The credit services provider reported $1.66 EPS for the quarter, FiscalAI reports. The business had revenue of $76.56 million for the quarter. Medallion Financial had a return on equity of 9.28% and a net margin of 12.12%.

Medallion Financial Stock Up 2.4%

Shares of NASDAQ:MFIN opened at $10.29 on Friday. Medallion Financial has a 52 week low of $7.71 and a 52 week high of $10.98. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.18 and a current ratio of 1.21. The company has a market capitalization of $239.55 million, a PE ratio of 6.02 and a beta of 0.69. The company’s fifty day moving average is $10.24 and its 200-day moving average is $10.14.

Institutional Trading of Medallion Financial

Several hedge funds and other institutional investors have recently modified their holdings of MFIN. Teton Advisors LLC bought a new stake in Medallion Financial in the 3rd quarter valued at $606,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Medallion Financial during the second quarter worth $272,000. Two Sigma Investments LP boosted its position in shares of Medallion Financial by 43.1% in the third quarter. Two Sigma Investments LP now owns 86,634 shares of the credit services provider’s stock valued at $875,000 after acquiring an additional 26,091 shares during the period. Jane Street Group LLC acquired a new position in shares of Medallion Financial in the second quarter valued at about $240,000. Finally, Panagora Asset Management Inc. bought a new position in Medallion Financial during the second quarter worth about $204,000. Institutional investors own 40.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MFIN. Wall Street Zen cut shares of Medallion Financial from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of Medallion Financial in a report on Thursday, January 22nd. Finally, Zacks Research lowered shares of Medallion Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.00.

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.