Medallion Financial Corp. (MFIN) Sees Large Volume Increase

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Medallion Financial Corp. (NASDAQ:MFIN) shares saw unusually-strong trading volume on Tuesday . Approximately 451,585 shares traded hands during mid-day trading, an increase of 93% from the previous session’s volume of 234,346 shares.The stock last traded at $4.06 and had previously closed at $4.34.
A number of equities analysts have recently weighed in on MFIN shares. Sandler O’Neill downgraded Medallion Financial Corp. from a “buy” rating to a “hold” rating and dropped their target price for the company from $12.00 to $6.50 in a report on Wednesday, August 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $8.00 target price (down previously from $9.75) on shares of Medallion Financial Corp. in a report on Monday, July 11th.
The stock has a market capitalization of $98.29 million and a price-to-earnings ratio of 3.87. The company’s 50 day moving average is $6.04 and its 200 day moving average is $7.53.

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Medallion Financial Corp. (NASDAQ:MFIN) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by $0.06. Equities analysts expect that Medallion Financial Corp. will post $0.85 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Wednesday, August 24th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend was Monday, August 22nd.
In other news, President Andrew Murstein purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were acquired at an average price of $5.49 per share, for a total transaction of $54,900.00. Following the completion of the acquisition, the president now directly owns 225,335 shares in the company, valued at $1,237,089.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Medallion Financial Corp. is a closed-end, non-diversified management investment company. The Company is a specialty finance company, which is engaged in originating, acquiring and servicing loans that finance taxicab medallions and various types of commercial businesses. The Company operates in lending and investing operations segment.

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