Medallion Financial (NASDAQ:MFIN) Downgraded to “Strong Sell” at ValuEngine

ValuEngine cut shares of Medallion Financial (NASDAQ:MFIN) from a sell rating to a strong sell rating in a report released on Thursday morning, ValuEngine reports.

A number of other research firms have also issued reports on MFIN. Northland Securities reissued a buy rating and issued a $12.00 price target on shares of Medallion Financial in a research report on Tuesday, May 7th. Zacks Investment Research raised shares of Medallion Financial from a sell rating to a hold rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Medallion Financial presently has an average rating of Hold and a consensus target price of $10.67.

MFIN stock traded down $0.06 during mid-day trading on Thursday, reaching $5.07. 107,589 shares of the stock traded hands, compared to its average volume of 175,260. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.12 and a current ratio of 1.12. Medallion Financial has a 52-week low of $4.07 and a 52-week high of $7.80. The stock has a market capitalization of $123.24 million, a P/E ratio of -9.39 and a beta of 1.50. The stock has a fifty day moving average of $5.96.

Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings data on Monday, May 6th. The credit services provider reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. The company had revenue of $29.18 million during the quarter, compared to analyst estimates of $26.71 million. Medallion Financial had a negative net margin of 5.09% and a negative return on equity of 3.12%. Research analysts forecast that Medallion Financial will post 0.42 earnings per share for the current year.

In other news, insider Thomas J. Munson sold 4,248 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $7.34, for a total value of $31,180.32. Following the completion of the sale, the insider now directly owns 17,670 shares of the company’s stock, valued at $129,697.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.10% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quinn Opportunity Partners LLC acquired a new position in Medallion Financial in the first quarter worth approximately $80,000. Deutsche Bank AG increased its holdings in Medallion Financial by 93.6% in the fourth quarter. Deutsche Bank AG now owns 35,685 shares of the credit services provider’s stock worth $166,000 after buying an additional 17,255 shares during the last quarter. Millennium Management LLC acquired a new position in Medallion Financial in the fourth quarter worth approximately $234,000. Advisor Group Inc. increased its holdings in Medallion Financial by 10.1% in the first quarter. Advisor Group Inc. now owns 190,318 shares of the credit services provider’s stock worth $1,313,000 after buying an additional 17,494 shares during the last quarter. Finally, Tieton Capital Management LLC acquired a new position in Medallion Financial in the first quarter worth approximately $1,458,000. 14.89% of the stock is owned by institutional investors and hedge funds.

About Medallion Financial

Medallion Financial Corp., through with its subsidiaries, operates as a finance company in the United States. It originates, acquires, and services loans that finance taxicab medallions and various types of commercial businesses. The company offers consumer loans for the purchase of recreational vehicles, boats, motorcycles, and trailers, as well as to finance small scale home improvements; and commercial loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business.

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