StockNews.com Downgrades Medallion Financial (NASDAQ:MFIN) to Hold

Medallion Financial (NASDAQ:MFINGet Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

Medallion Financial Stock Down 4.1 %

Medallion Financial stock traded down $0.33 during trading on Monday, reaching $7.76. 185,659 shares of the company’s stock were exchanged, compared to its average volume of 103,014. The company’s 50-day moving average is $9.33 and its two-hundred day moving average is $8.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.20 and a current ratio of 1.20. Medallion Financial has a 52-week low of $5.64 and a 52-week high of $10.49. The firm has a market cap of $182.20 million, a price-to-earnings ratio of 3.27 and a beta of 2.06.

Hedge Funds Weigh In On Medallion Financial

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its holdings in Medallion Financial by 1,917.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,066 shares of the credit services provider’s stock worth $26,000 after buying an additional 2,914 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in Medallion Financial in the 3rd quarter worth $32,000. Tower Research Capital LLC TRC acquired a new position in Medallion Financial in the 1st quarter worth $50,000. Barclays PLC acquired a new position in Medallion Financial in the 3rd quarter worth $57,000. Finally, UBS Group AG lifted its holdings in Medallion Financial by 420.9% in the 1st quarter. UBS Group AG now owns 8,089 shares of the credit services provider’s stock worth $62,000 after buying an additional 6,536 shares in the last quarter. Institutional investors and hedge funds own 19.09% of the company’s stock.

About Medallion Financial

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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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