Unusually Large Options Trading Medallion Financial Target (NASDAQ: MFIN)

0

Medallion Financial Corp. (NASDAQ: MFIN) saw unusually high options trading activity on Thursday. Stock investors bought 3,325 put options on the stock. This is an increase of approximately 1,005% over the average daily volume of 301 puts.

Hedge funds have recently changed their positions in the company. Royal Bank of Canada increased its position in Medallion Financial by 281.0% during the third quarter. Royal Bank of Canada now owns 3,932 shares of the credit services provider valued at $ 31,000 after purchasing an additional 2,900 shares during the period. Barclays PLC increased its position in Medallion Financial by 277.7% during the third quarter. Barclays PLC now owns 4,347 shares of the credit services provider valued at $ 34,000 after purchasing an additional 3,196 shares during the period. Janney Montgomery Scott LLC purchased a new position in Medallion Financial during the third quarter valued at approximately $ 82,000. LPL Financial LLC purchased a new position in Medallion Financial during the third quarter valued at approximately $ 96,000. Finally, Morgan Stanley strengthened its position in Medallion Financial by 28.9% during the third quarter. Morgan Stanley now owns 13,843 shares of the credit services provider valued at $ 108,000 after purchasing an additional 3,102 shares during the period. Institutional investors and hedge funds hold 26.58% of the company’s shares.

Actions of Medallion Financial Action traded down $ 0.44 during Thursday’s noon session, reaching $ 6.23. 1,465,135 shares of the company were traded for an average volume of 101,057. The stock has a market cap of $ 156.24 million, a price / earnings ratio of 3.75 and a beta of 2.83. The company has a leverage ratio of 0.63, a quick ratio of 1.19, and a current ratio of 1.19. The company’s fifty-day mobile average price is $ 8.40 and its 200-day mobile average price is $ 8.50. Medallion Financial has a 12-month minimum of $ 3.50 and a 12-month maximum of $ 9.50.

Medallion Financial (NASDAQ: MFIN) last reported its results on Monday, November 1. The credit services provider reported earnings per share of $ 0.64 for the quarter, beating the Zacks consensus estimate by $ 0.28 by $ 0.36. Medallion Financial had a net margin of 24.75% and a return on equity of 12.86%. The company posted revenue of $ 41.28 million for the quarter, compared to analysts’ estimates of $ 37.45 million. During the same period of the previous year, the company posted ($ 0.97) EPS. Equity research analysts predict that Medallion Financial will post earnings per share of 1.7 for the current year.

A number of research companies have recently weighed in on MFIN. TheStreet downgraded Medallion Financial shares from a “c” to a “b-” rating in a research report published on Monday, November 1. Zacks investment research Upgraded Medallion Financial shares from a “conservation” rating to a “strong buy” rating and set a target price of $ 9.50 for the company in a research note on Wednesday, December 22.

Medallion Financial Company Profile

Medallion Financial Corp. is a bank holding company which, through its subsidiaries, engages in consumer lending, deposit taking and other banking activities. It operates through the following segments: consumer credit; Business loans; loan of medallions; RPAC Racing, LLC (RPAC); and Businesses and others.

Recommended story: Conference calls

This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]

Should you invest $ 1,000 in Medallion Financial now?

Before you consider Medallion Financial, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts are quietly asking their clients to buy now before the broader market takes hold of… and Medallion Financial was not on the list.

While Medallion Financial currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.

See the 5 actions here


Source link

Share.

About Author

Comments are closed.