Medallion Financial (MFIN) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Medallion Financial (NASDAQ:MFIN) from a strong sell rating to a hold rating in a research note released on Wednesday.
According to Zacks, “Medallion Financial Corp. is a specialty finance company that originates and services loans that finance taxicab medallions and various types of commercial loans. “
MFIN has been the subject of several other reports. ValuEngine downgraded Medallion Financial from a strong-buy rating to a buy rating in a report on Thursday, August 2nd. B. Riley began coverage on Medallion Financial in a report on Friday, September 7th. They issued a buy rating and a $10.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $8.33.
Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings data on Tuesday, August 14th. The credit services provider reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.20). The firm had revenue of $29.60 million during the quarter. Medallion Financial had a negative net margin of 47.96% and a negative return on equity of 8.25%. On average, equities analysts anticipate that Medallion Financial will post -1.61 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Medallion Financial stock. Stifel Financial Corp lifted its stake in shares of Medallion Financial Corp (NASDAQ:MFIN) by 8.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 379,130 shares of the credit services provider’s stock after purchasing an additional 28,912 shares during the quarter. Stifel Financial Corp owned about 1.55% of Medallion Financial worth $1,765,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 17.33% of the company’s stock.
Medallion Financial Company Profile
Medallion Financial Corp., through with its subsidiaries, operates as a specialty 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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