Medallion Financial Corp (NASDAQ:MFIN) has been given a consensus broker rating score of 1.00 (Strong Buy) from the three analysts that cover the stock, Zacks Investment Research reports. Three research analysts have rated the stock with a strong buy rating.
Brokerages have set a 1 year consensus target price of $10.67 for the company and are expecting that the company will post $0.11 earnings per share for the current quarter, according to Zacks. Zacks has also given Medallion Financial an industry rank of 97 out of 256 based on the ratings given to its competitors.
A number of equities research analysts recently commented on MFIN shares. Zacks Investment Research lowered Medallion Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. ValuEngine upgraded Medallion Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Northland Securities restated a “buy” rating and issued a $12.00 price objective on shares of Medallion Financial in a research report on Tuesday, May 7th.
In other news, insider Thomas J. Munson sold 4,248 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $7.34, for a total transaction of $31,180.32. Following the completion of the transaction, the insider now directly owns 17,670 shares of the company’s stock, valued at approximately $129,697.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Alvin Murstein bought 10,000 shares of Medallion Financial stock in a transaction dated Thursday, August 8th. The shares were acquired at an average cost of $4.74 per share, with a total value of $47,400.00. Following the completion of the purchase, the chief executive officer now owns 44,566 shares in the company, valued at $211,242.84. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 17,200 shares of company stock worth $81,226. Insiders own 17.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its stake in shares of Medallion Financial by 1,344.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,242 shares of the credit services provider’s stock worth $42,000 after buying an additional 5,810 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Medallion Financial by 200.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,614 shares of the credit services provider’s stock worth $42,000 after buying an additional 4,414 shares during the period. Quinn Opportunity Partners LLC acquired a new position in shares of Medallion Financial during the 1st quarter worth approximately $80,000. Northern Trust Corp acquired a new position in shares of Medallion Financial during the 2nd quarter worth approximately $128,000. Finally, Deutsche Bank AG raised its stake in shares of Medallion Financial by 93.6% during the 4th quarter. Deutsche Bank AG now owns 35,685 shares of the credit services provider’s stock worth $166,000 after buying an additional 17,255 shares during the period. 14.43% of the stock is owned by institutional investors and hedge funds.
Medallion Financial stock traded up $0.03 during trading hours on Thursday, reaching $4.42. The stock had a trading volume of 69,248 shares, compared to its average volume of 129,217. Medallion Financial has a 52 week low of $4.07 and a 52 week high of $7.80. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $113.40 million, a P/E ratio of -8.19 and a beta of 1.50. The stock has a 50 day moving average of $5.50.
Medallion Financial (NASDAQ:MFIN) last issued its earnings results on Monday, August 5th. The credit services provider reported ($0.31) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.36). The firm had revenue of $24.88 million during the quarter, compared to analysts’ expectations of $31.52 million. Medallion Financial had a negative net margin of 1.05% and a negative return on equity of 0.63%. On average, equities analysts anticipate that Medallion Financial will post -0.03 earnings per share for the current fiscal year.
About Medallion Financial
Medallion Financial Corp., through with its subsidiaries, operates as a finance company in the United States. It originates, acquires, and services loans that finance taxicab medallions and various types of commercial businesses. The company offers consumer loans for the purchase of recreational vehicles, boats, motorcycles, and trailers, as well as to finance small scale home improvements; and commercial loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business.
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