Medallion Financial Corp. (NASDAQ:MFIN) Stock Rated “Reduce” by Sell-Side Brokerages

Shares of Medallion Financial Corp. (NASDAQ:MFIN) have earned an average rating of “Reduce” from the five research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $12.62.

Several equities analysts recently issued reports on the stock. Northland Securities set a $13.25 price target on shares of Medallion Financial in a report on Wednesday, October 14th. Piper Sandler reaffirmed a “neutral” rating and set a $12.00 price objective (up from $10.50) on shares of Medallion Financial in a research note on Friday, October 2nd. Zacks Research cut Medallion Financial from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 5th. UBS Group reaffirmed a “neutral” rating on shares of Medallion Financial in a research note on Friday, October 2nd. Finally, Weiss Ratings upgraded shares of Medallion Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, October 14th.

Hedge Funds Weigh In On Medallion Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Medallion Financial during the 2nd quarter worth approximately $12,450,000. Tieton Capital Management LLC bought a new position in Medallion Financial in the 2nd quarter valued at about $10,297,000. Sei Investments Co. lifted its position in Medallion Financial by 124.0% during the first quarter. Sei Investments Co. now owns 490,972 shares of the credit services provider’s stock worth $4,203,000 after acquiring an additional 271,789 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Medallion Financial during the second quarter worth approximately $2,057,000. Finally, De Lisle Partners LLP acquired a new stake in Medallion Financial during the second quarter worth approximately $2,027,000. 40.56% of the stock is owned by institutional investors.

Medallion Financial Stock Performance

Shares of NASDAQ MFIN opened at $11.25 on Tuesday. Medallion Financial has a 12 month low of $7.85 and a 12 month high of $12.26. The company has a market cap of $258.30 million, a P/E ratio of 8.46 and a beta of 0.79. The business’s 50 day moving average is $11.74 and its two-hundred day moving average is $10.26. The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

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

About Medallion Financial

Medallion Financial Corp. is a specialty finance company that originates and services loans for taxi medallion owners and operators. Its lending activities have historically focused on financing the purchase and refinancing of taxi medallions, as well as providing loans secured by related commercial assets.

Through its subsidiaries, including Medallion Bank, the company also participates in consumer and commercial lending. Medallion Bank has offered financing for recreational vehicles, boats, home-improvement projects and other consumer purchases, while the company’s broader lending operations serve small businesses and transportation-related borrowers.

Founded in 1995 and headquartered in New York, Medallion Financial has built its business around specialized lending markets that are often served by fewer traditional financial institutions.