B. Riley Cuts Medallion Financial (NASDAQ:MFIN) Price Target to $12.00

Medallion Financial (NASDAQ:MFIN – Get Rating) had its target price dropped by research analysts at B. Riley from $13.00 to $12.00 in a research report issued to clients and investors on Tuesday, The Fly reports. B. Riley’s price objective indicates a potential upside of 51.90% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. StockNews.com initiated coverage on shares of Medallion Financial in a report on Thursday, March 31st. They set a “buy” rating for the company. Zacks Investment Research lowered shares of Medallion Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, February 2nd.

Shares of Medallion Financial stock traded down $0.21 during trading on Tuesday, hitting $7.90. 91,072 shares of the company were exchanged, compared to its average volume of 138,697. The stock has a market capitalization of $201.77 million, a price-to-earnings ratio of 3.64 and a beta of 2.44. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.62. Medallion Financial has a fifty-two week low of $3.50 and a fifty-two week high of $10.05. The firm has a 50 day moving average price of $8.37 and a 200 day moving average price of $8.03.

Medallion Financial (NASDAQ:MFIN – Get Rating) last issued its earnings results on Wednesday, February 23rd. The credit services provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.52. Medallion Financial had a net margin of 28.40% and a return on equity of 16.28%. The business had revenue of $50.25 million for the quarter, compared to analyst estimates of $36.23 million. Analysts predict that Medallion Financial will post 1.48 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of MFIN. Royal Bank of Canada boosted its position in Medallion Financial by 281.0% in the third quarter. Royal Bank of Canada now owns 3,932 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 2,900 shares during the last quarter. Barclays PLC lifted its holdings in shares of Medallion Financial by 277.7% in the 3rd quarter. Barclays PLC now owns 4,347 shares of the credit services provider’s stock worth $34,000 after buying an additional 3,196 shares during the period. Dimensional Fund Advisors LP acquired a new position in Medallion Financial during the 4th quarter valued at about $66,000. Janney Montgomery Scott LLC increased its position in Medallion Financial by 15.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 12,144 shares of the credit services provider’s stock valued at $70,000 after buying an additional 1,670 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Medallion Financial by 73.9% in the fourth quarter. JPMorgan Chase & Co. now owns 16,036 shares of the credit services provider’s stock valued at $93,000 after purchasing an additional 6,817 shares during the period. 31.41% of the stock is owned by institutional investors and hedge funds.

About Medallion Financial (Get Rating)

Medallion Financial Corp., together with its subsidiaries, operates as a finance company in the United States. The company operates through four segments: Recreation Lending, Home Improvement Lending, Commercial Lending, and Medallion Lending. It provides loans that finance consumer purchases of recreational vehicles, boats, and trailers; consumer home improvements; commercial businesses; and taxi medallions to individuals, and small to mid-size businesses.

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