Medallion Financial Corp. (NASDAQ:MFIN) saw unusually large options trading activity on Thursday. Stock investors purchased 3,325 put options on the stock. This is an increase of approximately 1,005% compared to the average daily volume of 301 put options.
Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew 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’s stock valued at $31,000 after buying an additional 2,900 shares during the period. Barclays PLC grew its position in Medallion Financial by 277.7% during the third quarter. Barclays PLC now owns 4,347 shares of the credit services provider’s stock valued at $34,000 after buying an additional 3,196 shares during the period. Janney Montgomery Scott LLC bought a new position in Medallion Financial during the third quarter valued at about $82,000. LPL Financial LLC bought a new position in Medallion Financial during the third quarter valued at about $96,000. Finally, Morgan Stanley grew its position in Medallion Financial by 28.9% during the third quarter. Morgan Stanley now owns 13,843 shares of the credit services provider’s stock valued at $108,000 after buying an additional 3,102 shares during the period. Institutional investors and hedge funds own 26.58% of the company’s stock.
Shares of Medallion Financial stock traded down $0.44 during midday trading on Thursday, hitting $6.23. 1,465,135 shares of the company traded hands, compared to its average volume of 101,057. The stock has a market cap of $156.24 million, a price-to-earnings ratio of 3.75 and a beta of 2.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.19 and a current ratio of 1.19. The firm’s fifty day moving average price is $8.40 and its 200-day moving average price is $8.50. Medallion Financial has a 12 month low of $3.50 and a 12 month high of $9.50.
Medallion Financial (NASDAQ:MFIN) last posted its earnings results on Monday, November 1st. The credit services provider reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.36. Medallion Financial had a net margin of 24.75% and a return on equity of 12.86%. The firm had revenue of $41.28 million for the quarter, compared to analyst estimates of $37.45 million. During the same period in the previous year, the firm posted ($0.97) EPS. Equities research analysts forecast that Medallion Financial will post 1.7 earnings per share for the current year.
A number of research firms recently weighed in on MFIN. TheStreet raised shares of Medallion Financial from a “c” rating to a “b-” rating in a research report on Monday, November 1st. Zacks Investment Research upgraded shares of Medallion Financial from a “hold” rating to a “strong-buy” rating and set a $9.50 target price for the company in a research note on Wednesday, December 22nd.
Medallion Financial Company Profile
Medallion Financial Corp. is a bank holding company, which through its subsidiaries, engages in the provision of consumer loans, raises deposits, and other banking activities. It operates through the following segments: Consumer Lending; Commercial Lending; Medallion Lending; RPAC Racing, LLC (RPAC); and Corporate and Other.