Medallion Financial (NASDAQ:MFIN) Stock Gets Downgrade from LADENBURG THALM/SH SH

Key Points

• LADENBURG THALM/SH SH downgraded Medallion Financial from “buy” to “neutral.” MarketBeat reports that analysts’ average rating is “Reduce,” with an average price target of $12.62.
• Shares fell $1.05 to $10.63 in Friday trading, below the average analyst target. The stock has traded between $7.85 and $12.26 over the past year.
• Medallion Financial reported quarterly EPS of $0.10, missing the $0.32 consensus estimate by $0.22, despite revenue of $88.89 million exceeding analysts’ $63.54 million forecast.

Medallion Financial (NASDAQ:MFIN - Get Free Report) was downgraded by research analysts at LADENBURG THALM/SH SH from a "buy" rating to a "neutral" rating in a research report issued to clients and investors on Friday, Briefing.com reports.

MFIN has been the subject of several other reports. Weiss Ratings upgraded shares of Medallion Financial from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, October 14th. Piper Sandler reiterated a "neutral" rating and issued a $12.00 target price (up from $10.50) on shares of Medallion Financial in a research note on Friday, October 2nd. Northland Securities set a $13.25 price objective on shares of Medallion Financial in a research report on Wednesday, October 14th. Zacks Research lowered shares of Medallion Financial from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, October 5th. Finally, Raymond James Financial began coverage on Medallion Financial in a research note 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 assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $12.62.

Medallion Financial Stock Performance

Shares of NASDAQ MFIN traded down $1.05 during trading on Friday, reaching $10.63. The stock had a trading volume of 21,622 shares, compared to its average volume of 65,594. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.21 and a current ratio of 1.22. Medallion Financial has a one year low of $7.85 and a one year high of $12.26. The firm's 50 day moving average price is $11.76 and its two-hundred day moving average price is $10.28. The stock has a market cap of $244.06 million, a PE ratio of 7.99 and a beta of 0.79.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.22). Medallion Financial had a net margin of 9.25% and a return on equity of 7.11%. The firm had revenue of $88.89 million for the quarter, compared to analyst estimates of $63.54 million. On average, research analysts forecast that Medallion Financial will post 1.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Soltis Investment Advisors LLC grew its holdings in shares of Medallion Financial by 8.5% during the third quarter. Soltis Investment Advisors LLC now owns 49,680 shares of the credit services provider's stock valued at $591,000 after buying an additional 3,913 shares during the last quarter. 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 valued at $802,000 after purchasing an additional 9,968 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Medallion Financial by 11.4% in 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 Medallion Financial during the 2nd quarter worth approximately $620,000. Finally, Bank of America Corp DE acquired a new position in Medallion Financial in the 2nd quarter valued at about $190,000. 40.56% of the stock is owned by institutional investors.

Medallion Financial Company Profile

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.

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