Medallion Financial (NASDAQ:MFIN) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Medallion Financial's share price crossed above its 200-day moving average ($9.84) during Friday trading, trading as high as $10.00 and last quoted at $9.54 on volume of 63,044 shares.
• Fundamentals show a recent earnings beat of $0.50 EPS versus $0.41 expected (revenue $55.92M slightly below estimates), a low P/E of 5.36, market cap of $224.5M, and a declared annualized dividend of $0.48 (≈5.0% yield).
• Analyst sentiment is mixed with a consensus rating of Hold and an average target of $12.00 after recent downgrades (Weiss to Hold, Zacks to Strong Sell); coverage consists of one Buy, one Hold and one Sell.

Medallion Financial Corp. (NASDAQ:MFIN - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.84 and traded as high as $10.00. Medallion Financial shares last traded at $9.54, with a volume of 63,044 shares.

Analyst Upgrades and Downgrades

MFIN has been the subject of several analyst reports. Weiss Ratings lowered Medallion Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 8th. Zacks Research lowered Medallion Financial from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $12.00.

Medallion Financial Stock Performance

The stock has a market capitalization of $224.48 million, a P/E ratio of 5.36 and a beta of 0.84. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $9.42 and a two-hundred day moving average price of $9.84.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last released its earnings results on Wednesday, February 18th. The credit services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.41 by $0.09. Medallion Financial had a return on equity of 9.38% and a net margin of 12.18%.The business had revenue of $55.92 million during the quarter, compared to analysts' expectations of $56.20 million. On average, equities analysts forecast that Medallion Financial Corp. will post 1.46 earnings per share for the current year.

Medallion Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 19th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Thursday, March 19th. Medallion Financial's dividend payout ratio (DPR) is presently 26.97%.

Institutional Trading of Medallion Financial

Several large investors have recently made changes to their positions in the company. Empowered Funds LLC raised its stake in Medallion Financial by 9.7% during the 1st quarter. Empowered Funds LLC now owns 27,842 shares of the credit services provider's stock worth $243,000 after buying an additional 2,461 shares during the period. Rhumbline Advisers increased its holdings in shares of Medallion Financial by 6.7% during the second quarter. Rhumbline Advisers now owns 29,712 shares of the credit services provider's stock valued at $283,000 after acquiring an additional 1,871 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Medallion Financial by 14.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 118,321 shares of the credit services provider's stock worth $1,128,000 after purchasing an additional 14,557 shares during the period. Raymond James Financial Inc. lifted its holdings in shares of Medallion Financial by 87.9% in the 2nd quarter. Raymond James Financial Inc. now owns 30,110 shares of the credit services provider's stock worth $287,000 after purchasing an additional 14,085 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in Medallion Financial during the 2nd quarter valued at $240,000. 40.56% of the stock is currently owned by institutional investors and hedge funds.

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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