Medallion Financial (NASDAQ:MFIN) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Medallion Financial Corp. (NASDAQ:MFIN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.12 and traded as high as $10.38. Medallion Financial shares last traded at $10.26, with a volume of 62,322 shares.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Zacks Research cut shares of Medallion Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Wall Street Zen cut Medallion Financial from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Medallion Financial in a research note on Thursday. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Medallion Financial has an average rating of “Hold” and an average price target of $12.00.

Medallion Financial Stock Down 2.0%

The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.43. The firm has a market cap of $233.96 million, a price-to-earnings ratio of 5.88 and a beta of 0.69. The firm’s 50 day simple moving average is $10.17 and its two-hundred day simple moving average is $10.13.

Medallion Financial (NASDAQ:MFIN) last announced its earnings results on Wednesday, October 29th. The credit services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.29 by $0.17. Medallion Financial had a net margin of 12.12% and a return on equity of 9.28%. The company had revenue of $55.69 million for the quarter, compared to analysts’ expectations of $53.76 million. On average, equities analysts forecast that Medallion Financial Corp. will post 1.46 EPS for the current year.

Institutional Trading of Medallion Financial

A number of institutional investors have recently modified their holdings of MFIN. Bridgeway Capital Management LLC raised its stake in Medallion Financial by 10.8% in the third quarter. Bridgeway Capital Management LLC now owns 156,909 shares of the credit services provider’s stock valued at $1,585,000 after purchasing an additional 15,272 shares in the last quarter. De Lisle Partners LLP grew its stake in Medallion Financial by 19.5% during the second quarter. De Lisle Partners LLP now owns 123,757 shares of the credit services provider’s stock worth $1,181,000 after buying an additional 20,212 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Medallion Financial by 14.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 118,321 shares of the credit services provider’s stock valued at $1,128,000 after buying an additional 14,557 shares during the period. Ritholtz Wealth Management raised its position in shares of Medallion Financial by 10.6% in the 4th quarter. Ritholtz Wealth Management now owns 92,695 shares of the credit services provider’s stock valued at $954,000 after buying an additional 8,851 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in shares of Medallion Financial by 43.1% in the 3rd quarter. Two Sigma Investments LP now owns 86,634 shares of the credit services provider’s stock valued at $875,000 after buying an additional 26,091 shares in the last quarter. 40.56% of the stock is currently owned by institutional investors.

About Medallion Financial

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.