Medallion Financial (NASDAQ:MFIN) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Medallion Financial Corp. (NASDAQ:MFIN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.12 and traded as high as $10.38. Medallion Financial shares last traded at $10.26, with a volume of 62,322 shares changing hands.

Analyst Ratings Changes

MFIN has been the subject of a number of analyst reports. Wall Street Zen downgraded Medallion Financial from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Medallion Financial in a research note on Wednesday, October 8th. Finally, Zacks Research lowered shares of Medallion Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.00.

Medallion Financial Stock Performance

The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.43. The business has a 50 day simple moving average of $10.17 and a two-hundred day simple moving average of $10.12. The firm has a market cap of $238.85 million, a PE ratio of 6.00 and a beta of 0.69.

Medallion Financial (NASDAQ:MFIN) last issued its earnings results on Wednesday, October 29th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.17. The firm had revenue of $55.69 million during the quarter, compared to analyst estimates of $53.76 million. Medallion Financial had a net margin of 12.12% and a return on equity of 9.28%. As a group, equities research analysts forecast that Medallion Financial Corp. will post 1.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Medallion Financial

A number of hedge funds have recently added to or reduced their stakes in MFIN. Daytona Street Capital LLC bought a new stake in shares of Medallion Financial during the fourth quarter valued at approximately $51,000. Millennium Management LLC grew its stake in Medallion Financial by 24.5% in the third quarter. Millennium Management LLC now owns 43,528 shares of the credit services provider’s stock worth $440,000 after purchasing an additional 8,565 shares in the last quarter. Bank of America Corp DE increased its holdings in Medallion Financial by 4.4% during the 3rd quarter. Bank of America Corp DE now owns 26,318 shares of the credit services provider’s stock worth $266,000 after purchasing an additional 1,112 shares during the period. Two Sigma Investments LP raised its position in Medallion Financial by 43.1% during the 3rd quarter. Two Sigma Investments LP now owns 86,634 shares of the credit services provider’s stock valued at $875,000 after purchasing an additional 26,091 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its position in Medallion Financial by 10.8% during the 3rd quarter. Bridgeway Capital Management LLC now owns 156,909 shares of the credit services provider’s stock valued at $1,585,000 after purchasing an additional 15,272 shares in the last quarter. 40.56% of the stock is currently owned by institutional investors.

About Medallion Financial

Medallion Financial Corporation is a specialty finance company that provides asset-based lending solutions to small and mid-sized businesses in the United States. The company’s core business activities include secured loans collateralized by business assets such as insurance premiums, commercial real estate, maritime assets and portfolio receivables. Through its insurance premium finance division, Medallion offers short-term loans that allow policyholders to spread insurance costs over multiple payments, while its portfolio financing arm provides funding against a borrower’s existing asset portfolios.

Founded in 1998 and headquartered in Minneapolis, Minnesota, Medallion Financial originally established itself in the taxi medallion lending market, extending loans secured by New York City cab medallions.