Medallion Financial Corp. (NASDAQ:MFIN) Sees Significant Decrease in Short Interest

Medallion Financial Corp. (NASDAQ:MFIN) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 136,600 shares, a decrease of 19.4% from the August 15th total of 169,400 shares. Based on an average trading volume of 27,600 shares, the short-interest ratio is presently 4.9 days. Currently, 0.7% of the shares of the stock are sold short.

MFIN opened at $8.07 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.67. Medallion Financial has a 52-week low of $2.31 and a 52-week high of $9.50. The company has a market cap of $202.25 million, a price-to-earnings ratio of 201.80 and a beta of 2.92. The firm’s fifty day simple moving average is $8.57 and its two-hundred day simple moving average is $8.43.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings results on Sunday, August 1st. The credit services provider reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.12. The firm had revenue of $37.26 million during the quarter, compared to analysts’ expectations of $35.20 million. Medallion Financial had a return on equity of 0.50% and a net margin of 0.99%. On average, research analysts forecast that Medallion Financial will post 1.3 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley lifted its stake in Medallion Financial by 32.7% in the 1st quarter. Morgan Stanley now owns 21,291 shares of the credit services provider’s stock worth $151,000 after purchasing an additional 5,247 shares in the last quarter. State Street Corp purchased a new position in Medallion Financial during the second quarter worth approximately $341,000. WINTON GROUP Ltd boosted its stake in Medallion Financial by 6.9% during the second quarter. WINTON GROUP Ltd now owns 38,849 shares of the credit services provider’s stock worth $344,000 after buying an additional 2,520 shares during the last quarter. Corsair Capital Management L.P. grew its holdings in Medallion Financial by 102.1% in the 1st quarter. Corsair Capital Management L.P. now owns 52,594 shares of the credit services provider’s stock valued at $371,000 after buying an additional 26,576 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in Medallion Financial by 6.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 113,644 shares of the credit services provider’s stock valued at $1,007,000 after buying an additional 7,300 shares in the last quarter. Hedge funds and other institutional investors own 22.10% of the company’s stock.

Separately, Zacks Investment Research cut Medallion Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 7th.

Medallion Financial Company Profile

Medallion Financial Corp. is a bank holding company, which through its subsidiaries, engages in the provision of consumer loans, raises deposits, and other banking activities. It operates through the following segments: Consumer Lending; Commercial Lending; Medallion Lending; RPAC Racing, LLC (RPAC); and Corporate and Other.

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