Medallion Financial (MFIN) Earns Buy Rating from Northland Securities

Northland Securities reaffirmed their buy rating on shares of Medallion Financial (NASDAQ:MFIN) in a research report sent to investors on Tuesday morning, AnalystRatings.com reports. They currently have a $12.00 price objective on the credit services provider’s stock.

A number of other equities analysts have also recently issued reports on MFIN. ValuEngine cut Medallion Financial from a strong-buy rating to a buy rating in a report on Thursday, April 25th. Zacks Investment Research upgraded Medallion Financial from a strong sell rating to a hold rating in a report on Wednesday, January 16th. B. Riley set a $10.00 target price on Medallion Financial and gave the stock a buy rating in a report on Thursday, February 28th. Finally, BTIG Research began coverage on Medallion Financial in a report on Friday, February 22nd. They issued a buy rating and a $10.00 target price on the stock. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Medallion Financial has a consensus rating of Buy and a consensus price target of $10.67.

Shares of NASDAQ MFIN traded up $0.12 during mid-day trading on Tuesday, reaching $7.72. The company had a trading volume of 792 shares, compared to its average volume of 89,698. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $181.31 million, a price-to-earnings ratio of -14.26 and a beta of 1.71. Medallion Financial has a 1-year low of $3.59 and a 1-year high of $7.65.

Medallion Financial (NASDAQ:MFIN) last issued its earnings results on Monday, May 6th. The credit services provider reported $0.05 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.05. The business had revenue of $29.18 million for the quarter, compared to analysts’ expectations of $26.71 million. Medallion Financial had a negative return on equity of 4.75% and a negative net margin of 17.53%. As a group, analysts anticipate that Medallion Financial will post 0.62 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Morgan Stanley grew its holdings in shares of Medallion Financial by 25.5% during the third quarter. Morgan Stanley now owns 419,804 shares of the credit services provider’s stock valued at $2,792,000 after buying an additional 85,326 shares in the last quarter. B. Riley Financial Inc. grew its holdings in shares of Medallion Financial by 107.4% during the fourth quarter. B. Riley Financial Inc. now owns 207,350 shares of the credit services provider’s stock valued at $972,000 after buying an additional 107,350 shares in the last quarter. Seacliff Capital LLC purchased a new position in shares of Medallion Financial during the fourth quarter valued at $528,000. Millennium Management LLC purchased a new position in shares of Medallion Financial during the fourth quarter valued at $234,000. Finally, Deutsche Bank AG grew its holdings in shares of Medallion Financial by 93.6% during the fourth quarter. Deutsche Bank AG now owns 35,685 shares of the credit services provider’s stock valued at $166,000 after buying an additional 17,255 shares in the last quarter. Institutional investors and hedge funds own 15.46% 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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