Medallion Financial Corp. (NASDAQ:MFIN) posted its earnings results on Wednesday. The credit services provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.01 by $0.06, Morningstar.com reports. The business had revenue of $0.38 million for the quarter. Medallion Financial Corp. had a negative return on equity of 0.83% and a net margin of 85.80%.

Medallion Financial Corp. (NASDAQ MFIN) traded down 7.41% on Thursday, reaching $2.25. The company’s stock had a trading volume of 347,290 shares. Medallion Financial Corp. has a 52 week low of $1.60 and a 52 week high of $5.58. The company has a market capitalization of $53.83 million, a price-to-earnings ratio of 3.04 and a beta of 1.68. The firm’s 50 day moving average price is $2.37 and its 200-day moving average price is $2.29.

Separately, ValuEngine lowered Medallion Financial Corp. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd.

In other news, Director David L. Rudnick bought 13,049 shares of Medallion Financial Corp. stock in a transaction on Friday, June 9th. The shares were bought at an average price of $2.50 per share, with a total value of $32,622.50. Following the acquisition, the director now directly owns 8,424 shares in the company, valued at approximately $21,060. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alvin Murstein bought 27,500 shares of Medallion Financial Corp. stock in a transaction on Wednesday, May 24th. The shares were purchased at an average cost of $23,925.00 per share, for a total transaction of $657,937,500.00. Following the acquisition, the chief executive officer now owns 127,618 shares in the company, valued at $3,053,260,650. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 191,300 shares of company stock worth $658,325,617. 15.13% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MFIN. Bank of New York Mellon Corp increased its position in Medallion Financial Corp. by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 77,306 shares of the credit services provider’s stock worth $153,000 after buying an additional 906 shares in the last quarter. Teton Advisors Inc. increased its position in Medallion Financial Corp. by 17.9% in the second quarter. Teton Advisors Inc. now owns 165,000 shares of the credit services provider’s stock worth $394,000 after buying an additional 25,000 shares in the last quarter. First Manhattan Co. increased its position in Medallion Financial Corp. by 1,250.0% in the first quarter. First Manhattan Co. now owns 27,000 shares of the credit services provider’s stock worth $113,000 after buying an additional 25,000 shares in the last quarter. Gamco Investors INC. ET AL increased its position in Medallion Financial Corp. by 25.2% in the first quarter. Gamco Investors INC. ET AL now owns 167,000 shares of the credit services provider’s stock worth $331,000 after buying an additional 33,622 shares in the last quarter. Finally, Stifel Financial Corp increased its position in Medallion Financial Corp. by 26.0% in the first quarter. Stifel Financial Corp now owns 234,550 shares of the credit services provider’s stock worth $458,000 after buying an additional 48,471 shares in the last quarter. 17.94% of the stock is currently owned by institutional investors.

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Medallion Financial Corp. Company Profile

Medallion Financial Corp. is a closed-end, non-diversified management investment company. The Company is a specialty finance company, which is engaged in originating, acquiring and servicing loans that finance taxicab medallions and various types of commercial businesses. The Company operates in lending and investing operations segment.

Earnings History for Medallion Financial Corp. (NASDAQ:MFIN)

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