Medallion Financial (NASDAQ:MFIN) Stock Rating Lowered by Zacks Investment Research

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Medallion Financial (NASDAQ:MFINGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Medallion Financial Corp. is a specialty finance company that originates and services loans that finance taxicab medallions and various types of commercial loans. “

Several other research analysts have also recently commented on the stock. StockNews.com started coverage on shares of Medallion Financial in a report on Thursday, March 31st. They set a “buy” rating for the company. B. Riley lowered their target price on shares of Medallion Financial from $13.00 to $12.00 in a report on Tuesday, April 12th.

NASDAQ MFIN opened at $7.46 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.62. Medallion Financial has a 52 week low of $3.50 and a 52 week high of $10.05. The stock has a market capitalization of $190.55 million, a PE ratio of 3.44 and a beta of 2.44. The firm has a 50 day moving average of $8.47 and a two-hundred day moving average of $8.02.

Medallion Financial (NASDAQ:MFINGet Rating) last posted its quarterly earnings results on Wednesday, February 23rd. The credit services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.26 by $0.52. Medallion Financial had a net margin of 28.40% and a return on equity of 16.28%. The company had revenue of $50.25 million during the quarter, compared to analysts’ expectations of $36.23 million. On average, equities research analysts expect that Medallion Financial will post 1.48 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC boosted its stake in Medallion Financial by 15.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 12,144 shares of the credit services provider’s stock worth $70,000 after purchasing an additional 1,670 shares during the period. Raymond James & Associates acquired a new stake in Medallion Financial during the 3rd quarter worth $167,000. Wellington Management Group LLP boosted its stake in Medallion Financial by 10.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,164,922 shares of the credit services provider’s stock worth $9,133,000 after purchasing an additional 108,600 shares during the period. Key Colony Management LLC acquired a new stake in Medallion Financial during the 4th quarter worth $5,633,000. Finally, Royal Bank of Canada boosted its stake in Medallion Financial by 281.0% during the 3rd quarter. Royal Bank of Canada now owns 3,932 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 2,900 shares during the period. Hedge funds and other institutional investors own 31.41% of the company’s stock.

About Medallion Financial (Get Rating)

Medallion Financial Corp., together with its subsidiaries, operates as a finance company in the United States. The company operates through four segments: Recreation Lending, Home Improvement Lending, Commercial Lending, and Medallion Lending. It provides loans that finance consumer purchases of recreational vehicles, boats, and trailers; consumer home improvements; commercial businesses; and taxi medallions to individuals, and small to mid-size businesses.

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