Medallion Financial (NASDAQ:MFIN) Shares Pass Above 200-Day Moving Average – What’s Next?

Medallion Financial Corp. (NASDAQ:MFIN)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.14 and traded as high as $10.35. Medallion Financial shares last traded at $10.29, with a volume of 73,091 shares.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MFIN. Zacks Research downgraded Medallion Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Medallion Financial in a research report on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of Medallion Financial from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.00.

Medallion Financial Price Performance

The stock’s 50 day simple moving average is $10.24 and its 200-day simple moving average is $10.14. The firm has a market cap of $239.55 million, a price-to-earnings ratio of 6.02 and a beta of 0.69. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.18 and a current ratio of 1.21.

Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings results on Thursday, January 29th. The credit services provider reported $1.66 earnings per share for the quarter. Medallion Financial had a return on equity of 9.28% and a net margin of 12.12%.The business had revenue of $76.56 million for the quarter. Equities research analysts anticipate that Medallion Financial Corp. will post 1.46 EPS for the current fiscal year.

Institutional Trading of Medallion Financial

A number of hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its holdings in Medallion Financial by 45.0% during the third quarter. BNP Paribas Financial Markets now owns 3,708 shares of the credit services provider’s stock worth $37,000 after acquiring an additional 1,150 shares during the period. Daytona Street Capital LLC purchased a new stake in Medallion Financial in the 4th quarter worth approximately $51,000. Tower Research Capital LLC TRC grew its stake in shares of 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 purchasing an additional 5,288 shares during the period. Osaic Holdings Inc. purchased a new position in shares of Medallion Financial during the 2nd quarter valued at approximately $76,000. Finally, Allworth Financial LP purchased a new position in shares of Medallion Financial during the 2nd quarter valued at approximately $152,000. Hedge funds and other institutional investors own 40.56% of the company’s stock.

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.