Medallion Financial (NASDAQ:MFIN) Raised to “Buy” at StockNews.com

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

Medallion Financial Stock Performance

NASDAQ:MFIN traded up $0.01 during mid-day trading on Wednesday, hitting $8.93. 26,076 shares of the stock were exchanged, compared to its average volume of 43,399. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 1.18. The firm’s 50-day simple moving average is $9.45 and its 200 day simple moving average is $8.80. Medallion Financial has a fifty-two week low of $6.48 and a fifty-two week high of $10.50. The stock has a market capitalization of $206.00 million, a price-to-earnings ratio of 5.28 and a beta of 2.07.

Institutional Trading of Medallion Financial

A number of institutional investors have recently bought and sold shares of MFIN. BNP Paribas Financial Markets boosted its stake in shares of Medallion Financial by 52.3% in the third quarter. BNP Paribas Financial Markets now owns 4,820 shares of the credit services provider’s stock valued at $39,000 after buying an additional 1,656 shares during the period. Jane Street Group LLC acquired a new position in Medallion Financial in the 3rd quarter valued at $117,000. PDT Partners LLC bought a new stake in shares of Medallion Financial during the 3rd quarter valued at $165,000. Barclays PLC increased its position in shares of Medallion Financial by 297.6% in the third quarter. Barclays PLC now owns 26,063 shares of the credit services provider’s stock worth $213,000 after purchasing an additional 19,508 shares during the period. Finally, Empowered Funds LLC increased its position in shares of Medallion Financial by 56.1% in the fourth quarter. Empowered Funds LLC now owns 25,381 shares of the credit services provider’s stock worth $238,000 after purchasing an additional 9,121 shares during the period. 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.