Medallion Financial (NASDAQ:MFIN) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of Medallion Financial Corp. (NASDAQ:MFIN) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 traded.

Wall Street Analyst Weigh In

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

Medallion Financial Price Performance

The firm has a market capitalization of $239.55 million, a PE ratio of 6.02 and a beta of 0.69. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.43. The company has a fifty day moving average price of $10.24 and a two-hundred day moving average price of $10.15.

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

Hedge Funds Weigh In On Medallion Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC boosted its position in Medallion Financial by 9.7% during the first quarter. Empowered Funds LLC now owns 27,842 shares of the credit services provider’s stock worth $243,000 after purchasing an additional 2,461 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Medallion Financial by 4.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 69,116 shares of the credit services provider’s stock worth $659,000 after buying an additional 3,053 shares during the last quarter. Ritholtz Wealth Management raised its stake in shares of Medallion Financial by 21.6% during the 2nd quarter. Ritholtz Wealth Management now owns 75,866 shares of the credit services provider’s stock worth $723,000 after buying an additional 13,500 shares during the last quarter. Allworth Financial LP purchased a new stake in shares of Medallion Financial in the 2nd quarter worth about $152,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in Medallion Financial in the 2nd quarter valued at about $272,000. 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 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.