Medallion Financial (NASDAQ:MFIN) Lifted to “Strong-Buy” at ValuEngine

ValuEngine upgraded shares of Medallion Financial (NASDAQ:MFIN) from a buy rating to a strong-buy rating in a research report released on Monday, April 1st, ValuEngine reports.

MFIN has been the topic of several other research reports. BTIG Research began coverage on shares of Medallion Financial in a research note on Friday, February 22nd. They issued a buy rating and a $10.00 price target on the stock. B. Riley set a $10.00 price target on shares of Medallion Financial and gave the stock a buy rating in a research note on Thursday, February 28th. Finally, Zacks Investment Research upgraded shares of Medallion Financial from a strong sell rating to a hold rating in a research note on Wednesday, January 16th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $10.67.

Shares of MFIN traded up $0.04 during trading hours on Monday, reaching $6.84. 1,513 shares of the stock traded hands, compared to its average volume of 88,512. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.13. Medallion Financial has a 52-week low of $3.59 and a 52-week high of $7.29. The stock has a market cap of $167.59 million, a price-to-earnings ratio of -12.67 and a beta of 1.74.

Medallion Financial (NASDAQ:MFIN) last released its earnings results on Wednesday, February 27th. The credit services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.33. Medallion Financial had a negative net margin of 17.53% and a negative return on equity of 4.75%. The company had revenue of $50.63 million for the quarter, compared to analysts’ expectations of $26.37 million. On average, equities research analysts predict that Medallion Financial will post 0.62 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC raised its position in shares of Medallion Financial by 92.8% during the 3rd quarter. Virtu Financial LLC now owns 19,866 shares of the credit services provider’s stock valued at $132,000 after buying an additional 9,561 shares in the last quarter. Deutsche Bank AG grew its holdings in Medallion Financial by 93.6% during the 4th quarter. Deutsche Bank AG now owns 35,685 shares of the credit services provider’s stock valued at $166,000 after purchasing an additional 17,255 shares during the last quarter. Millennium Management LLC bought a new position in Medallion Financial during the 4th quarter valued at about $234,000. Seacliff Capital LLC bought a new position in Medallion Financial during the 4th quarter valued at about $528,000. Finally, B. Riley Financial Inc. bought a new position in Medallion Financial during the 3rd quarter valued at about $665,000. Hedge funds and other institutional investors own 15.64% of the company’s stock.

About Medallion Financial

Medallion Financial Corp., through with its subsidiaries, operates as a 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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