Medallion Financial (NASDAQ:MFIN) Downgraded to "Buy" Rating by Wall Street Zen

Medallion Financial (NASDAQ:MFIN - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Saturday.

Medallion Financial Stock Up 0.2%

Shares of NASDAQ:MFIN opened at $9.62 on Friday. The stock has a market capitalization of $223.57 million, a price-to-earnings ratio of 6.01 and a beta of 1.33. Medallion Financial has a 1-year low of $7.21 and a 1-year high of $10.50. The company's fifty day moving average is $9.44 and its two-hundred day moving average is $9.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.12 and a current ratio of 1.18.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The credit services provider reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.18. The company had revenue of $75.43 million for the quarter, compared to analysts' expectations of $51.73 million. Medallion Financial had a net margin of 11.96% and a return on equity of 8.70%. Equities analysts anticipate that Medallion Financial will post 1.46 EPS for the current year.

Hedge Funds Weigh In On Medallion Financial

Several institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC grew its position in shares of Medallion Financial by 4.6% during the second quarter. Janney Montgomery Scott LLC now owns 69,116 shares of the credit services provider's stock worth $659,000 after acquiring an additional 3,053 shares during the last quarter. Baron Wealth Management LLC bought a new position in shares of Medallion Financial during the second quarter worth about $103,000. Empowered Funds LLC grew its position in shares of Medallion Financial by 9.7% during the first quarter. Empowered Funds LLC now owns 27,842 shares of the credit services provider's stock worth $243,000 after acquiring an additional 2,461 shares during the last quarter. Uniplan Investment Counsel Inc. bought a new position in shares of Medallion Financial during the first quarter worth about $483,000. Finally, MetLife Investment Management LLC grew its position in shares of Medallion Financial by 25.4% during the first quarter. MetLife Investment Management LLC now owns 11,311 shares of the credit services provider's stock worth $99,000 after acquiring an additional 2,293 shares during the last quarter. Institutional investors own 40.56% of the company's stock.

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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