Medallion Financial (NASDAQ:MFIN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, Zacks.com reports.
According to Zacks, “Medallion Financial Corp. is a specialty finance company that originates and services loans that finance taxicab medallions and various types of commercial loans. “
Separately, TheStreet raised shares of Medallion Financial from a “c” rating to a “b-” rating in a research report on Monday, November 1st.
NASDAQ:MFIN opened at $7.33 on Wednesday. The company has a market cap of $183.83 million, a price-to-earnings ratio of 4.44 and a beta of 2.74. The company has a fifty day simple moving average of $7.40 and a two-hundred day simple moving average of $8.09. Medallion Financial has a 52 week low of $3.50 and a 52 week high of $9.50. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.63.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada lifted its position in Medallion Financial by 281.0% in the third quarter. Royal Bank of Canada now owns 3,932 shares of the credit services provider’s stock valued at $31,000 after acquiring an additional 2,900 shares during the last quarter. Barclays PLC lifted its position in Medallion Financial by 277.7% in the third quarter. Barclays PLC now owns 4,347 shares of the credit services provider’s stock valued at $34,000 after acquiring an additional 3,196 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Medallion Financial by 15.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 12,144 shares of the credit services provider’s stock valued at $70,000 after acquiring an additional 1,670 shares during the last quarter. LPL Financial LLC purchased a new stake in Medallion Financial in the third quarter valued at $96,000. Finally, Morgan Stanley lifted its position in Medallion Financial by 28.9% in the third quarter. Morgan Stanley now owns 13,843 shares of the credit services provider’s stock valued at $108,000 after acquiring an additional 3,102 shares during the last quarter. 22.46% of the stock is owned by hedge funds and other institutional investors.
Medallion Financial Company Profile
Medallion Financial Corp. is a bank holding company, which through its subsidiaries, engages in the provision of consumer loans, raises deposits, and other banking activities. It operates through the following segments: Consumer Lending; Commercial Lending; Medallion Lending; RPAC Racing, LLC (RPAC); and Corporate and Other.
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