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

Key Points

• Medallion Financial has been downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen.
• The company reported earnings of $0.50 per share, surpassing analysts' estimates of $0.32, with revenues of $75.43 million for the quarter.
• Institutional investors now own approximately 40.56% of Medallion Financial's stock, with notable increases in holdings by firms like Janney Montgomery Scott LLC and MetLife Investment Management LLC.

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

Medallion Financial Stock Up 1.3%

Medallion Financial stock traded up $0.13 during trading hours on Friday, hitting $10.25. The stock had a trading volume of 93,946 shares, compared to its average volume of 57,013. The company has a quick ratio of 1.12, a current ratio of 1.18 and a debt-to-equity ratio of 0.44. The stock's 50-day moving average price is $9.46 and its 200-day moving average price is $9.02. Medallion Financial has a 12-month low of $7.21 and a 12-month high of $10.75. The stock has a market capitalization of $238.21 million, a P/E ratio of 6.41 and a beta of 1.33.

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

Institutional Investors Weigh In On Medallion Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN grew its holdings in shares of Medallion Financial by 24.3% in the fourth quarter. Wells Fargo & Company MN now owns 11,554 shares of the credit services provider's stock worth $108,000 after purchasing an additional 2,256 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Medallion Financial in the fourth quarter worth about $92,000. Raymond James Financial Inc. bought a new position in shares of Medallion Financial in the fourth quarter worth about $150,000. O Shaughnessy Asset Management LLC grew its holdings in shares of Medallion Financial by 37.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 132,143 shares of the credit services provider's stock worth $1,241,000 after purchasing an additional 35,917 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Medallion Financial by 16.1% in the fourth quarter. Barclays PLC now owns 30,247 shares of the credit services provider's stock worth $284,000 after purchasing an additional 4,184 shares during the last quarter. Hedge funds and other 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.