Medallion Financial (NASDAQ:MFIN) Cut to Buy at Wall Street Zen

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

Medallion Financial Stock Performance

NASDAQ MFIN traded up $0.04 on Friday, reaching $9.41. The stock had a trading volume of 41,291 shares, compared to its average volume of 66,651. The stock has a market cap of $218.69 million, a P/E ratio of 5.88 and a beta of 1.35. Medallion Financial has a 12-month low of $6.48 and a 12-month high of $10.50. The business's 50-day moving average price is $9.17 and its 200 day moving average price is $9.03. 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 quarterly 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 firm had revenue of $75.43 million during 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%. As a group, equities analysts expect that Medallion Financial will post 1.46 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC lifted its holdings 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 purchasing an additional 2,461 shares during the period. Uniplan Investment Counsel Inc. purchased a new position in Medallion Financial during the 1st quarter worth $483,000. MetLife Investment Management LLC raised its position in Medallion Financial by 25.4% during the 1st quarter. MetLife Investment Management LLC now owns 11,311 shares of the credit services provider's stock worth $99,000 after buying an additional 2,293 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Medallion Financial in the 1st quarter worth $161,000. Finally, Nuveen LLC purchased a new stake in shares of Medallion Financial in the first quarter valued at about $164,000. 40.56% of the stock is currently owned by hedge funds and other institutional investors.

Medallion Financial Company Profile

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.