Medallion Financial (NASDAQ:MFIN) Share Price Passes Above 200-Day Moving Average – What’s Next?

Medallion Financial Corp. (NASDAQ:MFIN)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.55 and traded as high as $9.53. Medallion Financial shares last traded at $9.39, with a volume of 72,111 shares traded.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Medallion Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th.

Medallion Financial Price Performance

The company has a 50 day simple moving average of $9.59 and a 200 day simple moving average of $8.55. The company has a market capitalization of $216.61 million, a price-to-earnings ratio of 5.56 and a beta of 2.11. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.54.

Medallion Financial (NASDAQ:MFIN) last posted its earnings results on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $77.00 million during the quarter, compared to the consensus estimate of $52.88 million. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. During the same quarter in the prior year, the company earned $0.48 EPS. As a group, research analysts predict that Medallion Financial Corp. will post 1.48 EPS for the current year.

Medallion Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were issued a dividend of $0.11 per share. This is a positive change from Medallion Financial’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, November 15th. This represents a $0.44 annualized dividend and a dividend yield of 4.69%. Medallion Financial’s payout ratio is presently 26.04%.

Institutional Trading of Medallion Financial

Several large investors have recently added to or reduced their stakes in MFIN. BNP Paribas Financial Markets lifted its stake in shares of 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 purchasing an additional 1,656 shares in the last quarter. Jane Street Group LLC acquired a new position in Medallion Financial during the 3rd quarter worth approximately $117,000. PDT Partners LLC purchased a new position in Medallion Financial in the 3rd quarter worth approximately $165,000. Rhumbline Advisers boosted its holdings in Medallion Financial by 2,306.5% in the 2nd quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider’s stock worth $186,000 after acquiring an additional 23,180 shares during the period. Finally, Barclays PLC grew its position in Medallion Financial by 297.6% in the third quarter. Barclays PLC now owns 26,063 shares of the credit services provider’s stock valued at $213,000 after acquiring an additional 19,508 shares in the last quarter. 40.56% of the stock is currently owned by institutional investors and hedge funds.

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.