Insider Selling: Medallion Financial Corp. Insider Sells 20,300 Shares of Stock (TAXI)
Medallion Financial Corp. (NASDAQ:TAXI) Insider Alvin Murstein sold 20,300 shares of Medallion Financial Corp. stock on the open market in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $13.01, for a total transaction of $264,103.00. Following the completion of the transaction, the insider now directly owns 114,584 shares of the company’s stock, valued at approximately $1,490,738. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
TAXI has been the subject of a number of recent research reports. Analysts at Keefe, Bruyette & Woods cut their price target on shares of Medallion Financial Corp. from $15.50 to $15.00 in a research note on Thursday, May 22nd. They now have a “market perform” rating on the stock. Separately, analysts at Zacks downgraded shares of Medallion Financial Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, April 24th.
Medallion Financial Corp. (NASDAQ:TAXI) traded down 1.70% during mid-day trading on Friday, hitting $12.74. The stock had a trading volume of 461,843 shares. Medallion Financial Corp. has a 1-year low of $12.73 and a 1-year high of $17.85. The stock has a 50-day moving average of $13.50 and a 200-day moving average of $14.03. The company has a market cap of $316.8 million and a price-to-earnings ratio of 11.48.
Medallion Financial Corp. (NASDAQ:TAXI) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.26 by $0.01. On average, analysts predict that Medallion Financial Corp. will post $1.12 earnings per share for the current fiscal year.
Medallion Financial Corp. is a specialty finance company that is engaged in originating, acquiring, and servicing loans that finance taxicab medallions and various types of commercial businesses.
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