Medallion Financial (NASDAQ:MFIN) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Medallion Financial Corp.'s stock has recently crossed above its 200-day moving average, indicating potential upward momentum, with the stock trading as high as $10.10.
• Analysts have mixed ratings for the stock, with one firm upgrading it to a buy with a price target of $12.00, while another downgraded it to a buy from a strong-buy.
• The company reported a strong quarterly earnings performance, exceeding expectations with an EPS of $0.46 and revenue of $53.37 million.

Shares of Medallion Financial Corp. (NASDAQ:MFIN - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.59 and traded as high as $10.10. Medallion Financial shares last traded at $9.89, with a volume of 26,802 shares changing hands.

Analysts Set New Price Targets

Several research firms have issued reports on MFIN. Wall Street Zen cut Medallion Financial from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 11th. LADENBURG THALM/SH SH upgraded Medallion Financial from a "neutral" rating to a "buy" rating and set a $12.00 price target for the company in a report on Thursday, July 31st. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Medallion Financial in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $12.00.

Medallion Financial Stock Down 0.9%

The business has a 50 day simple moving average of $10.40 and a 200 day simple moving average of $9.59. The company has a market capitalization of $229.94 million, a price-to-earnings ratio of 5.62 and a beta of 1.38. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.20 and a quick ratio of 1.17.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.16. Medallion Financial had a return on equity of 9.04% and a net margin of 12.62%.The firm had revenue of $53.37 million for the quarter, compared to the consensus estimate of $52.07 million. As a group, equities analysts predict that Medallion Financial Corp. will post 1.46 earnings per share for the current fiscal year.

Medallion Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, August 15th. This represents a $0.48 dividend on an annualized basis and a yield of 4.9%. Medallion Financial's dividend payout ratio is 27.27%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its stake in Medallion Financial by 533.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,280 shares of the credit services provider's stock worth $60,000 after buying an additional 5,288 shares during the period. Osaic Holdings Inc. acquired a new position in shares of Medallion Financial in the second quarter worth $76,000. D Orazio & Associates Inc. purchased a new stake in shares of Medallion Financial during the first quarter worth $95,000. MetLife Investment Management LLC raised its stake in shares of Medallion Financial by 25.4% in the first quarter. MetLife Investment Management LLC now owns 11,311 shares of the credit services provider's stock valued at $99,000 after acquiring an additional 2,293 shares in the last quarter. Finally, Baron Wealth Management LLC acquired a new stake in shares of Medallion Financial in the second quarter valued at $103,000. Hedge funds and other institutional investors own 40.56% of the company's stock.

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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