Quinn Opportunity Partners LLC bought a new position in shares of Medallion Financial Corp (NASDAQ:MFIN) in the 1st quarter, Holdings Channel reports. The firm bought 11,590 shares of the credit services provider’s stock, valued at approximately $80,000.
A number of other hedge funds have also bought and sold shares of the stock. Deutsche Bank AG lifted its stake in Medallion Financial by 93.6% in the fourth quarter. Deutsche Bank AG now owns 35,685 shares of the credit services provider’s stock valued at $166,000 after buying an additional 17,255 shares during the last quarter. Millennium Management LLC purchased a new stake in Medallion Financial in the fourth quarter valued at approximately $234,000. Seacliff Capital LLC purchased a new stake in Medallion Financial in the fourth quarter valued at approximately $528,000. B. Riley Financial Inc. lifted its stake in Medallion Financial by 107.4% in the fourth quarter. B. Riley Financial Inc. now owns 207,350 shares of the credit services provider’s stock valued at $972,000 after buying an additional 107,350 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Medallion Financial by 25.5% in the third quarter. Morgan Stanley now owns 419,804 shares of the credit services provider’s stock valued at $2,792,000 after buying an additional 85,326 shares during the last quarter. Hedge funds and other institutional investors own 13.53% of the company’s stock.
MFIN has been the subject of a number of research reports. ValuEngine upgraded Medallion Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 22nd. BTIG Research initiated coverage on Medallion Financial in a research note on Friday, February 22nd. They issued a “buy” rating and a $10.00 price objective for the company. B. Riley set a $10.00 price objective on Medallion Financial and gave the company a “buy” rating in a research note on Thursday, February 28th. Zacks Investment Research cut Medallion Financial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 6th. Finally, Northland Securities reiterated a “buy” rating and issued a $12.00 price objective on shares of Medallion Financial in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Medallion Financial has an average rating of “Buy” and a consensus target price of $10.67.
Medallion Financial (NASDAQ:MFIN) last released its earnings results on Monday, May 6th. The credit services provider reported $0.05 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.05. The business had revenue of $29.18 million for the quarter, compared to analyst estimates of $26.71 million. Medallion Financial had a negative return on equity of 3.12% and a negative net margin of 5.09%. Equities analysts predict that Medallion Financial Corp will post 0.42 earnings per share for the current year.
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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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