Medallion Financial (NASDAQ:MFIN) Raised to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Medallion Financial from "strong sell" to "hold" while Weiss Ratings lowered it from "buy" to "hold," leaving the consensus rating at Hold with a $12.00 consensus price target.
• Medallion reported $0.50 EPS (beating the $0.41 estimate) but slightly missed revenue expectations at $55.92M, and the stock trades around $9.42 with a low P/E of 5.29 and a 52-week range of $7.85–$11.00.
• Institutional interest is meaningful—several hedge funds (including Uniplan and Goldman Sachs) increased stakes recently, and about 40.56% of the stock is held by hedge funds and other institutional investors.

Medallion Financial (NASDAQ:MFIN - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

Separately, Weiss Ratings cut Medallion Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 8th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $12.00.

Medallion Financial Stock Performance

Medallion Financial stock opened at $9.42 on Monday. The stock's 50 day simple moving average is $9.38 and its two-hundred day simple moving average is $9.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.20 and a current ratio of 1.21. The stock has a market cap of $221.65 million, a price-to-earnings ratio of 5.29 and a beta of 0.84. Medallion Financial has a fifty-two week low of $7.85 and a fifty-two week high of $11.00.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The credit services provider reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.09. Medallion Financial had a return on equity of 9.38% and a net margin of 12.18%.The firm had revenue of $55.92 million for the quarter, compared to analysts' expectations of $56.20 million. As a group, analysts expect that Medallion Financial will post 1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Medallion Financial

A number of hedge funds have recently added to or reduced their stakes in MFIN. Uniplan Investment Counsel Inc. raised its holdings in Medallion Financial by 34.5% in the 4th quarter. Uniplan Investment Counsel Inc. now owns 340,123 shares of the credit services provider's stock worth $3,500,000 after acquiring an additional 87,321 shares during the last quarter. Mariner LLC purchased a new position in Medallion Financial in the 4th quarter worth approximately $739,000. Teton Advisors LLC purchased a new position in Medallion Financial in the 3rd quarter worth approximately $606,000. Goldman Sachs Group Inc. raised its holdings in Medallion Financial by 83.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 129,949 shares of the credit services provider's stock worth $1,337,000 after acquiring an additional 59,130 shares during the last quarter. Finally, De Lisle Partners LLP raised its holdings in Medallion Financial by 40.4% in the 4th quarter. De Lisle Partners LLP now owns 180,079 shares of the credit services provider's stock worth $1,851,000 after acquiring an additional 51,822 shares during the last quarter. 40.56% of the stock is currently owned by hedge funds and other institutional investors.

Medallion Financial Company Profile

Medallion Financial Corporation is a specialty finance company that provides asset-based lending solutions to small and mid-sized businesses in the United States. The company's core business activities include secured loans collateralized by business assets such as insurance premiums, commercial real estate, maritime assets and portfolio receivables. Through its insurance premium finance division, Medallion offers short-term loans that allow policyholders to spread insurance costs over multiple payments, while its portfolio financing arm provides funding against a borrower's existing asset portfolios.

Founded in 1998 and headquartered in Minneapolis, Minnesota, Medallion Financial originally established itself in the taxi medallion lending market, extending loans secured by New York City cab medallions.

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