Medallion Financial (NASDAQ:MFIN) Lowered to Hold at StockNews.com

Medallion Financial (NASDAQ:MFIN) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Medallion Financial Stock Performance

Shares of Medallion Financial stock opened at $7.82 on Friday. The stock has a market cap of $183.61 million, a price-to-earnings ratio of 3.30 and a beta of 2.06. The firm’s 50-day moving average is $8.36 and its 200 day moving average is $8.57. Medallion Financial has a 1 year low of $5.64 and a 1 year high of $10.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.20.

Medallion Financial (NASDAQ:MFIN) last announced its quarterly earnings results on Tuesday, February 20th. The credit services provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The firm had revenue of $52.01 million during the quarter, compared to the consensus estimate of $54.89 million. Medallion Financial had a return on equity of 14.02% and a net margin of 20.99%. Sell-side analysts anticipate that Medallion Financial will post 1.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Medallion Financial

A number of hedge funds have recently bought and sold shares of MFIN. BNP Paribas Arbitrage SA grew its stake in shares of Medallion Financial by 1,917.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,066 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 2,914 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Medallion Financial in the third quarter worth $32,000. Tower Research Capital LLC TRC purchased a new position in shares of Medallion Financial in the first quarter worth $50,000. Barclays PLC purchased a new position in shares of Medallion Financial in the third quarter worth $57,000. Finally, UBS Group AG lifted its holdings in shares of Medallion Financial by 420.9% in the first quarter. UBS Group AG now owns 8,089 shares of the credit services provider’s stock worth $62,000 after buying an additional 6,536 shares in the last quarter. Hedge funds and other institutional investors own 40.56% of the company’s stock.

Medallion Financial Company Profile

Medallion Financial Corp., together with its subsidiaries, operates as a specialty finance company in the United States. It operates in four segments: Recreation Lending, Home Improvement Lending, Commercial Lending, and Taxi Medallion Lending. The company offers loans that finance consumer purchases of recreational vehicles, boats, and other consumer recreational equipment; consumer financing for window, siding, and roof replacement, swimming pool installations, and other home improvement projects; senior and subordinated loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business; and taxi medallion loans to individuals and small to mid-size businesses.