Medallion Financial (NASDAQ:MFIN) Raised to “Buy” at StockNews.com

Medallion Financial (NASDAQ:MFIN) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Medallion Financial Price Performance

NASDAQ MFIN traded up $0.01 during trading on Wednesday, hitting $8.93. 26,076 shares of the company’s stock were exchanged, compared to its average volume of 43,399. The company has a market cap of $206.00 million, a PE ratio of 5.28 and a beta of 2.07. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54. Medallion Financial has a fifty-two week low of $6.48 and a fifty-two week high of $10.50. The stock’s 50 day moving average price is $9.45 and its two-hundred day moving average price is $8.80.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MFIN. Segall Bryant & Hamill LLC bought a new position in Medallion Financial in the third quarter valued at about $1,025,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Medallion Financial by 32.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 213,477 shares of the credit services provider’s stock valued at $1,738,000 after buying an additional 51,941 shares during the last quarter. De Lisle Partners LLP boosted its position in Medallion Financial by 26.5% during the 3rd quarter. De Lisle Partners LLP now owns 103,545 shares of the credit services provider’s stock worth $842,000 after buying an additional 21,700 shares during the period. Ritholtz Wealth Management grew its holdings in Medallion Financial by 56.3% during the 4th quarter. Ritholtz Wealth Management now owns 57,584 shares of the credit services provider’s stock worth $541,000 after acquiring an additional 20,747 shares during the last quarter. Finally, PDT Partners LLC acquired a new position in Medallion Financial in the 3rd quarter valued at approximately $165,000. 40.56% of the stock is currently owned by institutional investors.

About Medallion Financial

Medallion Financial Corp., together with its subsidiaries, operates as a specialty finance company in the United States. It operates in four segments: Recreation Lending, Home Improvement Lending, Commercial Lending, and Taxi Medallion Lending. The company offers loans that finance consumer purchases of recreational vehicles, boats, and other consumer recreational equipment; consumer financing for window, siding, and roof replacement, swimming pool installations, and other home improvement projects; senior and subordinated loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business; and taxi medallion loans to individuals and small to mid-size businesses.