Medallion Financial (NASDAQ:MFIN) Raised to Buy at StockNews.com

Medallion Financial (NASDAQ:MFIN - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Saturday.

Medallion Financial Stock Down 0.6 %

Shares of MFIN stock traded down $0.06 during trading hours on Friday, hitting $9.53. 35,245 shares of the company's stock traded hands, compared to its average volume of 90,296. The stock's fifty day simple moving average is $8.63 and its two-hundred day simple moving average is $8.19. Medallion Financial has a 12-month low of $6.48 and a 12-month high of $10.19. The stock has a market cap of $219.84 million, a price-to-earnings ratio of 5.64 and a beta of 2.12. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.54.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. The company had revenue of $77.00 million during the quarter, compared to analyst estimates of $52.88 million. During the same period in the previous year, the business earned $0.48 EPS. On average, analysts expect that Medallion Financial will post 1.48 EPS for the current year.

Hedge Funds Weigh In On Medallion Financial

A number of hedge funds have recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC grew its position in Medallion Financial by 3.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 98,279 shares of the credit services provider's stock worth $777,000 after purchasing an additional 3,125 shares during the period. Bank of New York Mellon Corp grew its position in Medallion Financial by 60.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 140,794 shares of the credit services provider's stock worth $1,081,000 after purchasing an additional 52,857 shares during the period. Ridgewood Investments LLC bought a new stake in Medallion Financial in the 2nd quarter worth approximately $38,000. Panagora Asset Management Inc. bought a new stake in Medallion Financial in the 2nd quarter worth approximately $462,000. Finally, Ritholtz Wealth Management grew its position in Medallion Financial by 13.2% in the 2nd quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider's stock worth $320,000 after purchasing an additional 4,862 shares during the period. 40.56% of the stock is currently owned by hedge funds and other institutional investors.

Medallion Financial Company Profile

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.