Medallion Financial (NASDAQ:MFIN) Rating Lowered to “Neutral” at LADENBURG THALM/SH SH

Medallion Financial (NASDAQ:MFIN) was downgraded by equities researchers at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, Briefing.com reports.

Several other research analysts have also recently commented on MFIN. Weiss Ratings raised Medallion Financial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, October 14th. Northland Securities set a $13.25 price objective on Medallion Financial in a research report on Wednesday, October 14th. Piper Sandler reaffirmed a “neutral” rating and issued a $12.00 target price (up from $10.50) on shares of Medallion Financial in a report on Friday, October 2nd. Zacks Research downgraded shares of Medallion Financial from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 5th. Finally, Raymond James Financial began coverage on shares of Medallion Financial in a report on Thursday, July 9th. They issued a “market perform” rating on the stock. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $12.62.

Medallion Financial Stock Down 9.0%

MFIN stock traded down $1.05 during midday trading on Friday, hitting $10.63. The company’s stock had a trading volume of 21,622 shares, compared to its average volume of 65,594. The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. Medallion Financial has a 52-week low of $7.85 and a 52-week high of $12.26. The firm has a market capitalization of $244.06 million, a P/E ratio of 7.99 and a beta of 0.79. The firm has a 50-day simple moving average of $11.76 and a 200-day simple moving average of $10.28.

Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings data on Thursday, October 29th. The credit services provider reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). Medallion Financial had a return on equity of 7.11% and a net margin of 9.25%. The company had revenue of $88.89 million for the quarter, compared to analysts’ expectations of $63.54 million. As a group, equities analysts forecast that Medallion Financial will post 1.15 EPS for the current year.

Institutional Trading of Medallion Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Soltis Investment Advisors LLC grew its holdings in shares of Medallion Financial by 8.5% in the 3rd quarter. Soltis Investment Advisors LLC now owns 49,680 shares of the credit services provider’s stock worth $591,000 after acquiring an additional 3,913 shares during the period. Squarepoint Ops LLC raised its holdings in shares of Medallion Financial by 14.5% in the 2nd quarter. Squarepoint Ops LLC now owns 78,555 shares of the credit services provider’s stock worth $802,000 after purchasing an additional 9,968 shares during the period. Hsbc Holdings PLC boosted its position in Medallion Financial by 11.4% during the 2nd quarter. Hsbc Holdings PLC now owns 26,792 shares of the credit services provider’s stock worth $273,000 after purchasing an additional 2,749 shares during the period. Empowered Funds LLC purchased a new stake in shares of Medallion Financial during the second quarter valued at approximately $620,000. Finally, Bank of America Corp DE purchased a new position in Medallion Financial in the second quarter valued at about $190,000. Institutional investors and hedge funds own 40.56% of the company’s stock.

About Medallion Financial

Medallion Financial Corp. is a specialty finance company that originates and services loans for taxi medallion owners and operators. Its lending activities have historically focused on financing the purchase and refinancing of taxi medallions, as well as providing loans secured by related commercial assets.

Through its subsidiaries, including Medallion Bank, the company also participates in consumer and commercial lending. Medallion Bank has offered financing for recreational vehicles, boats, home-improvement projects and other consumer purchases, while the company’s broader lending operations serve small businesses and transportation-related borrowers.

Founded in 1995 and headquartered in New York, Medallion Financial has built its business around specialized lending markets that are often served by fewer traditional financial institutions.