Piper Sandler Upgrades Medallion Financial (NASDAQ:MFIN) to “Hold”

Medallion Financial (NASDAQ:MFIN) was upgraded by analysts at Piper Sandler to a “hold” rating in a research report issued on Friday,Zacks.com reports.

A number of other analysts also recently commented on MFIN. Zacks Research downgraded Medallion Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Weiss Ratings downgraded Medallion Financial from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Medallion Financial has an average rating of “Hold” and a consensus price target of $11.25.

Medallion Financial Stock Performance

Shares of MFIN stock opened at $9.81 on Friday. The business’s fifty day moving average price is $9.39 and its 200 day moving average price is $9.77. Medallion Financial has a 1-year low of $7.85 and a 1-year high of $11.00. The firm has a market capitalization of $233.97 million, a PE ratio of 6.63 and a beta of 0.78. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.21 and a quick ratio of 1.20.

Medallion Financial (NASDAQ:MFIN) last announced its quarterly earnings data on Wednesday, April 29th. The credit services provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.05). Medallion Financial had a return on equity of 7.73% and a net margin of 10.35%.The business had revenue of $79.07 million for the quarter, compared to analyst estimates of $56.15 million. As a group, sell-side analysts forecast that Medallion Financial will post 1.12 EPS for the current fiscal year.

Institutional Trading of Medallion Financial

Institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its position 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 purchasing an additional 1,150 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Medallion Financial in the fourth quarter valued at $42,000. Daytona Street Capital LLC purchased a new stake in shares of Medallion Financial in the fourth quarter valued at $51,000. Tower Research Capital LLC TRC lifted its position in shares of Medallion Financial by 533.1% in the second quarter. Tower Research Capital LLC TRC now owns 6,280 shares of the credit services provider’s stock valued at $60,000 after acquiring an additional 5,288 shares in the last quarter. Finally, Osaic Holdings Inc. purchased a new stake in shares of Medallion Financial in the second quarter valued at $76,000. 40.56% of the stock is currently owned by hedge funds and other institutional investors.

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.