Medallion Financial (NASDAQ:MFIN) Cut to “Strong Sell” at Zacks Investment Research

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Medallion Financial (NASDAQ:MFIN) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Saturday, September 1st.

According to Zacks, “Medallion Financial Corp. is a specialty finance company that originates and services loans that finance taxicab medallions and various types of commercial loans. “

Separately, ValuEngine lowered Medallion Financial from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $8.33.

Shares of MFIN traded up $0.27 during midday trading on Friday, hitting $6.55. 308,270 shares of the stock were exchanged, compared to its average volume of 146,139. Medallion Financial has a 52-week low of $2.08 and a 52-week high of $6.84. The firm has a market cap of $147.61 million, a P/E ratio of 21.13 and a beta of 1.80. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

Medallion Financial (NASDAQ:MFIN) last released its quarterly earnings results on Tuesday, August 14th. The credit services provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.20). Medallion Financial had a negative return on equity of 8.25% and a negative net margin of 47.96%. The firm had revenue of $29.60 million for the quarter. sell-side analysts expect that Medallion Financial will post -1.61 earnings per share for the current year.

A hedge fund recently raised its stake in Medallion Financial stock. Stifel Financial Corp lifted its stake in Medallion Financial Corp (NASDAQ:MFIN) by 8.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 379,130 shares of the credit services provider’s stock after purchasing an additional 28,912 shares during the period. Stifel Financial Corp owned about 1.55% of Medallion Financial worth $1,765,000 at the end of the most recent quarter. 17.33% of the stock is owned by institutional investors.

About Medallion Financial

Medallion Financial Corp., through with its subsidiaries, operates as a specialty finance company in the United States. It originates, acquires, and services loans that finance taxicab medallions and various types of commercial businesses. The company offers consumer loans for the purchase of recreational vehicles, boats, motorcycles, and trailers, as well as to finance small scale home improvements; and commercial loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business.

Read More: What is Considered a Good Return on Equity (ROE)?

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