Zacks: Medallion Financial Corp (MFIN) Given Consensus Rating of “Strong Buy” by Brokerages

Medallion Financial Corp (NASDAQ:MFIN) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy recommendation.

Brokers have set a one year consensus price objective of $11.00 for the company and are forecasting that the company will post $0.10 EPS for the current quarter, according to Zacks. Zacks has also given Medallion Financial an industry rank of 180 out of 256 based on the ratings given to related companies.

A number of brokerages have commented on MFIN. B. Riley set a $10.00 price target on Medallion Financial and gave the stock a “buy” rating in a research report on Tuesday, November 6th. ValuEngine upgraded Medallion Financial from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 2nd. Finally, Zacks Investment Research cut Medallion Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 13th.

MFIN traded up $0.05 during midday trading on Monday, reaching $5.19. The company had a trading volume of 136,523 shares, compared to its average volume of 72,725. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.56. The stock has a market cap of $126.84 million, a price-to-earnings ratio of 16.74 and a beta of 1.64. Medallion Financial has a 1 year low of $3.59 and a 1 year high of $7.25.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings results on Tuesday, November 13th. The credit services provider reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.30). The company had revenue of $33.71 million during the quarter, compared to analysts’ expectations of $32.07 million. Medallion Financial had a negative return on equity of 9.06% and a negative net margin of 34.18%. On average, equities analysts anticipate that Medallion Financial will post -0.81 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC lifted its stake in shares of Medallion Financial by 92.8% in the 3rd quarter. Virtu Financial LLC now owns 19,866 shares of the credit services provider’s stock valued at $132,000 after purchasing an additional 9,561 shares during the last quarter. Ridgewood Investments LLC lifted its stake in shares of Medallion Financial by 63.9% in the 3rd quarter. Ridgewood Investments LLC now owns 31,948 shares of the credit services provider’s stock valued at $212,000 after purchasing an additional 12,458 shares during the last quarter. B. Riley Financial Inc. bought a new stake in shares of Medallion Financial in the 3rd quarter valued at approximately $665,000. EAM Investors LLC bought a new stake in shares of Medallion Financial in the 3rd quarter valued at approximately $831,000. Finally, Morgan Stanley lifted its stake in shares of Medallion Financial by 25.5% in the 3rd quarter. Morgan Stanley now owns 419,804 shares of the credit services provider’s stock valued at $2,792,000 after purchasing an additional 85,326 shares during the last quarter. 17.02% 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.

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