Medallion Financial Corp. (MFIN) Issues Earnings Results
Medallion Financial Corp. (NASDAQ:MFIN) announced its earnings results on Wednesday. The credit services provider reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.06, Morningstar.com reports. The firm had revenue of $0.38 million during the quarter. Medallion Financial Corp. had a negative return on equity of 0.83% and a net margin of 85.80%.
Medallion Financial Corp. (NASDAQ:MFIN) traded down 7.41% during trading on Thursday, hitting $2.25. 347,290 shares of the stock traded hands. Medallion Financial Corp. has a 12 month low of $1.60 and a 12 month high of $5.58. The company’s 50 day moving average price is $2.37 and its 200 day moving average price is $2.29. The company has a market cap of $53.83 million, a P/E ratio of 3.04 and a beta of 1.68.
In other Medallion Financial Corp. news, CEO Alvin Murstein bought 27,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was purchased at an average price of $23,925.00 per share, for a total transaction of $657,937,500.00. Following the completion of the purchase, the chief executive officer now directly owns 127,618 shares in the company, valued at $3,053,260,650. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David L. Rudnick bought 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were acquired at an average price of $2.48 per share, with a total value of $148,800.00. Following the purchase, the director now owns 8,424 shares of the company’s stock, valued at $20,891.52. The disclosure for this purchase can be found here. Insiders bought a total of 191,300 shares of company stock valued at $658,325,617 in the last quarter. Company insiders own 15.13% of the company’s stock.
A number of large investors have recently bought and sold shares of MFIN. Corsair Capital Management L.P. acquired a new stake in Medallion Financial Corp. during the first quarter valued at $273,000. HPM Partners LLC acquired a new stake in Medallion Financial Corp. during the first quarter valued at $110,000. Stifel Financial Corp boosted its stake in Medallion Financial Corp. by 26.0% in the first quarter. Stifel Financial Corp now owns 234,550 shares of the credit services provider’s stock valued at $458,000 after buying an additional 48,471 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in Medallion Financial Corp. by 22.8% in the second quarter. Gamco Investors INC. ET AL now owns 205,000 shares of the credit services provider’s stock valued at $490,000 after buying an additional 38,000 shares during the last quarter. Finally, Teton Advisors Inc. boosted its stake in Medallion Financial Corp. by 27.3% in the first quarter. Teton Advisors Inc. now owns 140,000 shares of the credit services provider’s stock valued at $277,000 after buying an additional 30,000 shares during the last quarter. Hedge funds and other institutional investors own 17.94% of the company’s stock.
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Separately, ValuEngine downgraded shares of Medallion Financial Corp. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd.
About Medallion Financial Corp.
Medallion Financial Corp. is a closed-end, non-diversified management investment company. The Company is a specialty finance company, which is engaged in originating, acquiring and servicing loans that finance taxicab medallions and various types of commercial businesses. The Company operates in lending and investing operations segment.
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