Medallion Financial (NASDAQ:MFIN) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Medallion Financial Corp. (NASDAQ:MFIN)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.84 and traded as high as $10.00. Medallion Financial shares last traded at $9.54, with a volume of 63,044 shares trading hands.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Weiss Ratings cut shares of Medallion Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 8th. Zacks Research cut shares of Medallion Financial from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Medallion Financial currently has an average rating of “Hold” and a consensus price target of $12.00.

Medallion Financial Stock Performance

The firm’s 50 day moving average price is $9.42 and its two-hundred day moving average price is $9.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.20 and a current ratio of 1.21. The firm has a market cap of $224.48 million, a PE ratio of 5.36 and a beta of 0.84.

Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings results on Wednesday, February 18th. The credit services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.09. The business had revenue of $55.92 million during the quarter, compared to analysts’ expectations of $56.20 million. Medallion Financial had a net margin of 12.18% and a return on equity of 9.38%. On average, research analysts forecast that Medallion Financial Corp. will post 1.46 earnings per share for the current year.

Medallion Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 19th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, March 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.0%. Medallion Financial’s dividend payout ratio (DPR) is presently 26.97%.

Hedge Funds Weigh In On Medallion Financial

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in shares of Medallion Financial by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 406,754 shares of the credit services provider’s stock worth $4,186,000 after purchasing an additional 6,458 shares during the period. Uniplan Investment Counsel Inc. boosted its position in shares of Medallion Financial by 34.5% during the 4th quarter. Uniplan Investment Counsel Inc. now owns 340,123 shares of the credit services provider’s stock worth $3,500,000 after purchasing an additional 87,321 shares during the period. State Street Corp boosted its position in shares of Medallion Financial by 1.0% during the 4th quarter. State Street Corp now owns 243,509 shares of the credit services provider’s stock worth $2,506,000 after purchasing an additional 2,462 shares during the period. De Lisle Partners LLP boosted its position in shares of Medallion Financial by 40.4% during the 4th quarter. De Lisle Partners LLP now owns 180,079 shares of the credit services provider’s stock worth $1,851,000 after purchasing an additional 51,822 shares during the period. Finally, Bridgeway Capital Management LLC boosted its position in shares of Medallion Financial by 3.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 162,283 shares of the credit services provider’s stock worth $1,670,000 after purchasing an additional 5,374 shares during the period. Hedge funds and other institutional investors 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.