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


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.

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