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

StockNews.com upgraded shares of Medallion Financial (NASDAQ:MFIN) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

Medallion Financial Price Performance

Shares of MFIN opened at $8.93 on Wednesday. The business has a 50-day moving average of $9.45 and a 200-day moving average of $8.80. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market capitalization of $206.02 million, a price-to-earnings ratio of 5.28 and a beta of 2.07. Medallion Financial has a 1 year low of $6.48 and a 1 year high of $10.50.

Institutional Investors Weigh In On Medallion Financial

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its stake in Medallion Financial by 52.3% during the third quarter. BNP Paribas Financial Markets now owns 4,820 shares of the credit services provider’s stock worth $39,000 after buying an additional 1,656 shares during the last quarter. Jane Street Group LLC acquired a new stake in Medallion Financial during the 3rd quarter worth about $117,000. PDT Partners LLC bought a new position in shares of Medallion Financial in the 3rd quarter worth about $165,000. Barclays PLC lifted its stake in shares of Medallion Financial by 297.6% in the 3rd quarter. Barclays PLC now owns 26,063 shares of the credit services provider’s stock valued at $213,000 after purchasing an additional 19,508 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of Medallion Financial by 56.1% during the 4th quarter. Empowered Funds LLC now owns 25,381 shares of the credit services provider’s stock valued at $238,000 after purchasing an additional 9,121 shares in the last quarter. 40.56% of the stock is 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.