Medallion Financial (NASDAQ:MFIN) Downgraded by StockNews.com to "Hold"

Medallion Financial (NASDAQ:MFIN - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Friday.

Medallion Financial Stock Performance

Shares of MFIN traded down $0.25 on Friday, reaching $9.74. 65,087 shares of the company's stock traded hands, compared to its average volume of 91,425. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.55. The stock has a market cap of $225.67 million, a PE ratio of 5.76 and a beta of 2.12. The stock's 50 day simple moving average is $8.44 and its two-hundred day simple moving average is $8.14. Medallion Financial has a 52-week low of $6.48 and a 52-week high of $10.19.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. The company had revenue of $77.00 million during the quarter, compared to the consensus estimate of $52.88 million. Medallion Financial had a return on equity of 9.59% and a net margin of 13.72%. During the same period last year, the business posted $0.48 earnings per share. On average, analysts forecast that Medallion Financial will post 1.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Medallion Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in Medallion Financial by 60.1% during the second quarter. Bank of New York Mellon Corp now owns 140,794 shares of the credit services provider's stock valued at $1,081,000 after purchasing an additional 52,857 shares during the period. Ritholtz Wealth Management grew its holdings in Medallion Financial by 13.2% during the second quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider's stock valued at $320,000 after purchasing an additional 4,862 shares during the period. Rhumbline Advisers grew its holdings in Medallion Financial by 2,306.5% during the second quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider's stock valued at $186,000 after purchasing an additional 23,180 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Medallion Financial by 3.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 98,279 shares of the credit services provider's stock valued at $777,000 after purchasing an additional 3,125 shares during the period. Finally, American Century Companies Inc. grew its holdings in Medallion Financial by 30.6% during the second quarter. American Century Companies Inc. now owns 187,408 shares of the credit services provider's stock valued at $1,439,000 after purchasing an additional 43,917 shares during the period. 40.56% of the stock is owned by institutional investors.

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.

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