Medallion Financial (NASDAQ:MFIN) Raised to Strong-Buy at Zacks Research

Medallion Financial (NASDAQ:MFIN) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday, Zacks reports.

Several other equities research analysts have also recently commented on MFIN. Piper Sandler assumed coverage on Medallion Financial in a research note on Friday, June 12th. They issued a “neutral” rating and a $10.50 price target for the company. Raymond James Financial started coverage on shares of Medallion Financial in a research report on Thursday, July 9th. They set a “market perform” rating on the stock. Finally, Weiss Ratings raised shares of Medallion Financial from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.50.

Medallion Financial Trading Down 0.1%

Shares of NASDAQ MFIN opened at $12.04 on Monday. The company has a current ratio of 1.22, a quick ratio of 1.21 and a debt-to-equity ratio of 0.57. Medallion Financial has a one year low of $7.85 and a one year high of $12.26. The business has a 50-day moving average price of $11.37 and a two-hundred day moving average price of $10.12. The firm has a market capitalization of $276.44 million, a PE ratio of 9.05 and a beta of 0.81.

Medallion Financial (NASDAQ:MFIN) last released its earnings results on Wednesday, July 29th. The credit services provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The company had revenue of $84.38 million during the quarter, compared to the consensus estimate of $58.98 million. Medallion Financial had a net margin of 9.25% and a return on equity of 7.11%. As a group, analysts predict that Medallion Financial will post 1.15 earnings per share for the current fiscal year.

Institutional Trading of Medallion Financial

Several large investors have recently modified their holdings of MFIN. Hsbc Holdings PLC boosted its holdings in Medallion Financial by 9.3% during the first quarter. Hsbc Holdings PLC now owns 24,043 shares of the credit services provider’s stock valued at $209,000 after acquiring an additional 2,052 shares during the period. Ritholtz Wealth Management boosted its stake in Medallion Financial by 4.4% during the 1st quarter. Ritholtz Wealth Management now owns 96,761 shares of the credit services provider’s stock valued at $828,000 after purchasing an additional 4,066 shares during the period. Empowered Funds LLC grew its holdings in Medallion Financial by 10.8% in the 1st quarter. Empowered Funds LLC now owns 56,690 shares of the credit services provider’s stock valued at $485,000 after buying an additional 5,510 shares during the last quarter. Squarepoint Ops LLC grew its holdings in Medallion Financial by 14.5% in the 2nd quarter. Squarepoint Ops LLC now owns 78,555 shares of the credit services provider’s stock valued at $802,000 after buying an additional 9,968 shares during the last quarter. Finally, Vise Technologies Inc. bought a new position in Medallion Financial in the 2nd quarter worth approximately $110,000. 40.56% of the stock is owned by institutional investors.

About Medallion Financial

Medallion Financial Corporation is a specialty finance company that provides financing to individuals and businesses, with a historical focus on loans secured by taxicab medallions and related taxi assets. Through its lending subsidiaries, the company has supported taxi operators and medallion owners in major U.S. metropolitan areas.

In addition to taxi-medallion lending, Medallion Financial has expanded into other consumer and commercial finance activities. Its businesses have included recreational lending for products such as boats and recreational vehicles, as well as financing for home improvements and other consumer purposes.