Traders Buy Large Volume of Call Options on Medallion Financial (MFIN)

Medallion Financial Corp (NASDAQ:MFIN) was the target of some unusual options trading activity on Monday. Stock investors bought 2,731 call options on the stock. This represents an increase of approximately 4,235% compared to the typical volume of 63 call options.

A hedge fund recently raised its stake in Medallion Financial stock. Ridgewood Investments LLC raised its stake in Medallion Financial Corp (NASDAQ:MFIN) by 63.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,948 shares of the credit services provider’s stock after buying an additional 12,458 shares during the quarter. Ridgewood Investments LLC owned 0.13% of Medallion Financial worth $212,000 at the end of the most recent reporting period. 17.39% of the stock is owned by institutional investors and hedge funds.

Medallion Financial stock opened at $6.98 on Tuesday. The company has a market capitalization of $172.05 million, a price-to-earnings ratio of 22.50 and a beta of 1.56. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. Medallion Financial has a twelve month low of $2.50 and a twelve month high of $7.25.

Medallion Financial (NASDAQ:MFIN) last released its quarterly earnings data on Monday, November 12th. The credit services provider reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.30). The company had revenue of $33.71 million during the quarter, compared to analyst estimates of $32.07 million. Medallion Financial had a negative net margin of 47.96% and a negative return on equity of 8.25%. Equities research analysts forecast that Medallion Financial will post -0.64 earnings per share for the current year.

Several brokerages recently commented on MFIN. B. Riley set a $10.00 price target on shares of Medallion Financial and gave the company a “buy” rating in a research report on Tuesday, November 6th. Zacks Investment Research upgraded shares of Medallion Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 17th. Finally, ValuEngine upgraded shares of Medallion Financial from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 2nd. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $8.33.

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About Medallion Financial

Medallion Financial Corp., through with its subsidiaries, operates as a specialty finance company in the United States. It originates, acquires, and services loans that finance taxicab medallions and various types of commercial businesses. The company offers consumer loans for the purchase of recreational vehicles, boats, motorcycles, and trailers, as well as to finance small scale home improvements; and commercial loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business.

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