Medallion Financial (NASDAQ:MFIN) Stock Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Medallion Financial shares rose above their 200-day moving average, reaching $12.08 and last trading at $12.05, compared with a 200-day average of $10.10.
• Analysts remain cautious, with all four tracked analysts rating the stock “Hold” or equivalent and an average price target of $10.50—below its current price.
• The company reported quarterly EPS of $0.31, beating the $0.29 estimate, and revenue of $84.38 million versus expectations of $58.98 million. It also pays a quarterly dividend of $0.14, implying a 4.6% annualized yield.

Medallion Financial Corp. (NASDAQ:MFIN - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $10.10 and traded as high as $12.08. Medallion Financial shares last traded at $12.05, with a volume of 62,308 shares.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Medallion Financial from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, July 2nd. Piper Sandler assumed coverage on shares of Medallion Financial in a research note on Friday, June 12th. They set a "neutral" rating and a $10.50 target price for the company. Zacks Research upgraded shares of Medallion Financial from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 30th. Finally, Raymond James Financial assumed coverage on shares of Medallion Financial in a research note on Thursday, July 9th. They issued a "market perform" rating on the stock. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $10.50.

Medallion Financial Stock Up 0.8%

The company has a current ratio of 1.22, a quick ratio of 1.21 and a debt-to-equity ratio of 0.57. The stock has a 50-day simple moving average of $11.33 and a 200-day simple moving average of $10.10. The company has a market cap of $276.67 million, a price-to-earnings ratio of 9.06 and a beta of 0.81.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The credit services provider reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.02. Medallion Financial had a return on equity of 7.11% and a net margin of 9.25%.The company had revenue of $84.38 million for the quarter, compared to analyst estimates of $58.98 million. As a group, analysts predict that Medallion Financial Corp. will post 1.15 EPS for the current year.

Medallion Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Monday, August 17th. Medallion Financial's dividend payout ratio is currently 42.11%.

Hedge Funds Weigh In On Medallion Financial

Several large investors have recently bought and sold shares of the stock. Vise Technologies Inc. acquired a new stake in shares of Medallion Financial in the 2nd quarter worth approximately $110,000. Stephens Inc. AR bought a new position in shares of Medallion Financial in the first quarter valued at approximately $96,000. Allworth Financial LP acquired a new position in shares of Medallion Financial during the second quarter valued at approximately $164,000. PDT Partners LLC acquired a new position in shares of Medallion Financial during the second quarter valued at approximately $185,000. Finally, Bank of America Corp DE bought a new stake in Medallion Financial during the second quarter worth approximately $190,000. Institutional investors and hedge funds own 40.56% of the company's stock.

About Medallion Financial

Medallion Financial Corporation is a specialty finance company that provides financing to individuals and businesses, with a historical focus on loans secured by taxicab medallions and related taxi assets. Through its lending subsidiaries, the company has supported taxi operators and medallion owners in major U.S. metropolitan areas.

In addition to taxi-medallion lending, Medallion Financial has expanded into other consumer and commercial finance activities. Its businesses have included recreational lending for products such as boats and recreational vehicles, as well as financing for home improvements and other consumer purposes.

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