Medallion Financial (NASDAQ:MFIN) Stock Rating Lowered by StockNews.com

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

Medallion Financial Trading Down 2.1 %

Shares of MFIN stock opened at $9.19 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54. Medallion Financial has a 1 year low of $6.48 and a 1 year high of $10.50. The firm’s fifty day simple moving average is $9.60 and its 200 day simple moving average is $8.56. The firm has a market capitalization of $211.99 million, a P/E ratio of 5.44 and a beta of 2.11.

Medallion Financial (NASDAQ:MFIN) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Medallion Financial had a return on equity of 9.52% and a net margin of 13.72%. The company had revenue of $77.00 million during the quarter, compared to analyst estimates of $52.88 million. During the same period last year, the company posted $0.48 earnings per share. As a group, sell-side analysts predict that Medallion Financial will post 1.48 EPS for the current year.

Institutional Investors Weigh In On Medallion Financial

Several institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in shares of Medallion Financial by 60.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 140,794 shares of the credit services provider’s stock worth $1,081,000 after buying an additional 52,857 shares in the last quarter. Ritholtz Wealth Management increased its stake in shares of Medallion Financial by 13.2% in the second quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider’s stock valued at $320,000 after buying an additional 4,862 shares during the period. Rhumbline Advisers boosted its position in Medallion Financial by 2,306.5% during the 2nd quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider’s stock worth $186,000 after buying an additional 23,180 shares during the period. American Century Companies Inc. grew its holdings in Medallion Financial by 30.6% during the 2nd quarter. American Century Companies Inc. now owns 187,408 shares of the credit services provider’s stock worth $1,439,000 after acquiring an additional 43,917 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in Medallion Financial during the 3rd quarter worth about $1,025,000. Institutional investors own 40.56% of the company’s stock.

About Medallion Financial

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.