Medallion Financial (NASDAQ:MFIN) Share Price Passes Above 200 Day Moving Average of $7.15

Medallion Financial Corp. (NASDAQ:MFINGet Rating)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.15 and traded as high as $7.25. Medallion Financial shares last traded at $7.18, with a volume of 42,287 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Northland Securities downgraded Medallion Financial from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $11.00 to $9.00 in a report on Wednesday, October 5th. B. Riley reiterated a “buy” rating and set a $10.00 target price on shares of Medallion Financial in a report on Friday, October 7th. Finally, StockNews.com downgraded Medallion Financial from a “buy” rating to a “hold” rating in a report on Tuesday, November 15th.

Medallion Financial Trading Up 5.4 %

The business has a 50 day simple moving average of $7.05 and a two-hundred day simple moving average of $7.15. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.61. The stock has a market cap of $164.62 million, a price-to-earnings ratio of 3.54 and a beta of 2.07.

Medallion Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Tuesday, November 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $0.32 annualized dividend and a dividend yield of 4.46%. Medallion Financial’s payout ratio is 15.76%.

Institutional Trading of Medallion Financial

Several hedge funds have recently added to or reduced their stakes in MFIN. Ritholtz Wealth Management acquired a new stake in shares of Medallion Financial during the second quarter worth $122,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Medallion Financial by 139.0% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,916 shares of the credit services provider’s stock valued at $586,000 after buying an additional 40,076 shares in the last quarter. Tieton Capital Management LLC grew its holdings in shares of Medallion Financial by 16.0% during the first quarter. Tieton Capital Management LLC now owns 968,624 shares of the credit services provider’s stock valued at $8,233,000 after buying an additional 133,703 shares in the last quarter. PDT Partners LLC purchased a new position in shares of Medallion Financial during the first quarter valued at $89,000. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Medallion Financial by 91.7% during the second quarter. BNP Paribas Arbitrage SA now owns 5,879 shares of the credit services provider’s stock valued at $38,000 after buying an additional 2,813 shares in the last quarter. Institutional investors own 27.46% of the company’s stock.

Medallion Financial Company Profile

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Medallion Financial Corp., together with its subsidiaries, operates as a finance company in the United States. The company operates through four segments: Recreation Lending, Home Improvement Lending, Commercial Lending, and Medallion Lending. It provides loans that finance consumer purchases of recreational vehicles, boats, and trailers; consumer home improvements; commercial businesses; and taxi medallions to individuals, and small to mid-size businesses.

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