Medallion Financial (NASDAQ:MFIN) Rating Increased to Strong-Buy at Wall Street Zen

Medallion Financial (NASDAQ:MFIN - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Friday.

Medallion Financial Price Performance

NASDAQ:MFIN traded up $0.16 during trading hours on Friday, hitting $9.61. 33,618 shares of the stock were exchanged, compared to its average volume of 67,460. The firm's fifty day moving average price is $8.96 and its 200 day moving average price is $9.05. Medallion Financial has a 52-week low of $6.48 and a 52-week high of $10.50. The company has a market cap of $223.30 million, a P/E ratio of 5.69 and a beta of 1.35. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The credit services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.32 by $0.18. Medallion Financial had a return on equity of 9.52% and a net margin of 13.72%. The firm had revenue of $75.43 million during the quarter, compared to analysts' expectations of $51.73 million. As a group, equities research analysts anticipate that Medallion Financial will post 1.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Medallion Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Tieton Capital Management LLC raised its holdings in Medallion Financial by 22.9% in the 4th quarter. Tieton Capital Management LLC now owns 987,098 shares of the credit services provider's stock valued at $9,269,000 after acquiring an additional 184,172 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Medallion Financial in the fourth quarter valued at approximately $877,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Medallion Financial by 26.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 269,116 shares of the credit services provider's stock valued at $2,527,000 after purchasing an additional 55,639 shares during the last quarter. Uniplan Investment Counsel Inc. purchased a new position in Medallion Financial during the first quarter worth approximately $483,000. Finally, O Shaughnessy Asset Management LLC lifted its position in Medallion Financial by 37.3% during 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 buying an additional 35,917 shares in the last quarter. 40.56% of the stock is 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.

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