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, ValuEngine upgraded Medallion Financial from a sell rating to a hold rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Medallion Financial presently has a consensus rating of Buy and an average target price of $9.94.
Medallion Financial (NASDAQ:MFIN) last posted its earnings results on Wednesday, October 30th. The credit services provider reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.09. Medallion Financial had a return on equity of 2.71% and a net margin of 4.56%. The firm had revenue of $34.29 million for the quarter, compared to analysts’ expectations of $31.09 million. On average, equities research analysts anticipate that Medallion Financial will post 0.05 EPS for the current year.
Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its holdings in Medallion Financial by 1,344.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,242 shares of the credit services provider’s stock worth $42,000 after buying an additional 5,810 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Medallion Financial by 200.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,614 shares of the credit services provider’s stock worth $42,000 after buying an additional 4,414 shares during the last quarter. Northern Trust Corp acquired a new stake in Medallion Financial in the 2nd quarter worth about $128,000. Rhumbline Advisers boosted its holdings in Medallion Financial by 13.8% in the 3rd quarter. Rhumbline Advisers now owns 21,673 shares of the credit services provider’s stock worth $139,000 after buying an additional 2,631 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new stake in Medallion Financial in the 2nd quarter worth about $289,000. Institutional investors own 22.25% of the company’s stock.
Medallion Financial Company Profile
Medallion Financial Corp., through with its subsidiaries, operates as a finance company in the United States. It originates, acquires, and services loans that finance taxicab medallions and various types of commercial businesses. The company offers consumer loans for the purchase of recreational vehicles, boats, motorcycles, and trailers, as well as to finance small scale home improvements; and commercial loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business.
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