Medallion Financial (NASDAQ:MFIN) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Medallion Financial Corp. (NASDAQ:MFIN) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.14 and traded as high as $10.35. Medallion Financial shares last traded at $10.29, with a volume of 73,091 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded Medallion Financial from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Zacks Research downgraded Medallion Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Medallion Financial in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.00.

Medallion Financial Price Performance

The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $239.55 million, a PE ratio of 6.02 and a beta of 0.69. The stock’s 50-day moving average is $10.24 and its two-hundred day moving average is $10.14.

Medallion Financial (NASDAQ:MFIN) last released its earnings results on Thursday, January 29th. The credit services provider reported $1.66 earnings per share for the quarter. Medallion Financial had a return on equity of 9.28% and a net margin of 12.12%.The business had revenue of $76.56 million for the quarter. On average, equities analysts predict that Medallion Financial Corp. will post 1.46 EPS for the current year.

Institutional Investors Weigh In On Medallion Financial

A number of institutional investors and hedge funds have recently bought and sold shares of MFIN. Bank of America Corp DE increased its stake in shares of Medallion Financial by 4.4% during the third quarter. Bank of America Corp DE now owns 26,318 shares of the credit services provider’s stock valued at $266,000 after buying an additional 1,112 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Medallion Financial by 45.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,708 shares of the credit services provider’s stock valued at $37,000 after purchasing an additional 1,150 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Medallion Financial by 6.7% in the 2nd quarter. Rhumbline Advisers now owns 29,712 shares of the credit services provider’s stock worth $283,000 after purchasing an additional 1,871 shares during the period. Empowered Funds LLC boosted its stake in shares of Medallion Financial by 9.7% during the first quarter. Empowered Funds LLC now owns 27,842 shares of the credit services provider’s stock valued at $243,000 after purchasing an additional 2,461 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in shares of Medallion Financial by 1.9% during the second quarter. Bridgeway Capital Management LLC now owns 141,637 shares of the credit services provider’s stock valued at $1,350,000 after purchasing an additional 2,692 shares in the last quarter. 40.56% of the stock is owned by institutional investors.

Medallion Financial Company Profile

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.