Medallion Financial (NASDAQ:MFIN) Stock Rating Upgraded by StockNews.com

Medallion Financial (NASDAQ:MFIN) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Medallion Financial Price Performance

Shares of NASDAQ:MFIN opened at $9.53 on Friday. The business has a 50 day moving average price of $8.63 and a 200 day moving average price of $8.19. Medallion Financial has a twelve month low of $6.48 and a twelve month high of $10.19. The company has a market cap of $219.86 million, a price-to-earnings ratio of 5.64 and a beta of 2.12. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.54.

Medallion Financial (NASDAQ:MFIN) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Medallion Financial had a return on equity of 9.52% and a net margin of 13.72%. The firm had revenue of $77.00 million during the quarter, compared to the consensus estimate of $52.88 million. During the same quarter in the prior year, the company earned $0.48 EPS. Research analysts predict that Medallion Financial will post 1.48 earnings per share for the current year.

Hedge Funds Weigh In On Medallion Financial

Hedge funds have recently modified their holdings of the stock. Segall Bryant & Hamill LLC bought a new position in Medallion Financial in the 3rd quarter valued at $1,025,000. Panagora Asset Management Inc. bought a new position in Medallion Financial in the 2nd quarter valued at $462,000. Bank of New York Mellon Corp boosted its position in Medallion Financial by 60.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 140,794 shares of the credit services provider’s stock valued at $1,081,000 after buying an additional 52,857 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Medallion Financial by 32.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 213,477 shares of the credit services provider’s stock worth $1,738,000 after purchasing an additional 51,941 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Medallion Financial by 30.6% in the 2nd quarter. American Century Companies Inc. now owns 187,408 shares of the credit services provider’s stock worth $1,439,000 after purchasing an additional 43,917 shares during the last quarter. 40.56% of the stock is owned by institutional investors and hedge funds.

Medallion Financial Company Profile

Medallion Financial Corp., together with its subsidiaries, operates as a specialty finance company in the United States. It operates in four segments: Recreation Lending, Home Improvement Lending, Commercial Lending, and Taxi Medallion Lending. The company offers loans that finance consumer purchases of recreational vehicles, boats, and other consumer recreational equipment; consumer financing for window, siding, and roof replacement, swimming pool installations, and other home improvement projects; senior and subordinated loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business; and taxi medallion loans to individuals and small to mid-size businesses.