Zacks: Medallion Financial Corp (NASDAQ:MFIN) Given $10.67 Average Target Price by Analysts

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

Analysts have set a 1 year consensus price objective of $10.67 for the company and are expecting that the company will post $0.05 earnings per share for the current quarter, according to Zacks. Zacks has also given Medallion Financial an industry rank of 97 out of 256 based on the ratings given to its competitors.

Several equities research analysts have issued reports on MFIN shares. Zacks Investment Research downgraded shares of Medallion Financial from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 6th. ValuEngine upgraded shares of Medallion Financial from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 22nd. Northland Securities reiterated a “buy” rating and issued a $12.00 price target on shares of Medallion Financial in a research report on Monday, April 15th. B. Riley set a $10.00 price target on shares of Medallion Financial and gave the company a “buy” rating in a research report on Thursday, February 28th. Finally, BTIG Research assumed coverage on shares of Medallion Financial in a research report on Friday, February 22nd. They issued a “buy” rating and a $10.00 price target for the company.

MFIN stock traded down $0.02 during mid-day trading on Friday, hitting $6.37. 2,619 shares of the company were exchanged, compared to its average volume of 107,218. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $160.88 million, a PE ratio of -11.89 and a beta of 1.60. Medallion Financial has a 1-year low of $4.07 and a 1-year high of $7.80.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings data on Monday, May 6th. The credit services provider reported $0.05 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. The firm had revenue of $29.18 million during the quarter, compared to the consensus estimate of $26.71 million. Medallion Financial had a negative net margin of 5.09% and a negative return on equity of 3.12%. As a group, research analysts expect that Medallion Financial will post 0.42 EPS for the current year.

In other news, insider Thomas J. Munson sold 4,248 shares of Medallion Financial stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $7.34, for a total value of $31,180.32. Following the completion of the sale, the insider now directly owns 17,670 shares in the company, valued at $129,697.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 16.70% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quinn Opportunity Partners LLC acquired a new stake in shares of Medallion Financial in the first quarter valued at approximately $80,000. Deutsche Bank AG increased its stake in Medallion Financial by 93.6% in the fourth quarter. Deutsche Bank AG now owns 35,685 shares of the credit services provider’s stock valued at $166,000 after acquiring an additional 17,255 shares during the last quarter. Trexquant Investment LP bought a new position in Medallion Financial in the first quarter valued at approximately $297,000. Millennium Management LLC bought a new position in Medallion Financial in the fourth quarter valued at approximately $234,000. Finally, Seacliff Capital LLC bought a new position in Medallion Financial in the fourth quarter valued at approximately $528,000. Institutional investors own 14.92% 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.

Read More: What defines an oversold asset?

Get a free copy of the Zacks research report on Medallion Financial (MFIN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Medallion Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medallion Financial and related companies with MarketBeat.com's FREE daily email newsletter.