The stock of Medallion Financial Corp (NASDAQ:MFIN) is a huge mover today! The stock decreased 3.08% or $0.13 on October 3, hitting $4.09. About 178,346 shares traded hands. Medallion Financial Corp (NASDAQ:MFIN) has declined 50.00% since March 1, 2016 and is downtrending. It has underperformed by 62.22% the S&P500.
The move comes after 8 months negative chart setup for the $101.31M company. It was reported on Oct, 4 by Barchart.com. We have $3.68 PT which if reached, will make NASDAQ:MFIN worth $10.13M less.
Analysts await Medallion Financial Corp (NASDAQ:MFIN) to report earnings on November, 2.
According to Zacks Investment Research, “Medallion Financial Corp. is a specialty finance company that originates and services loans that finance taxicab medallions and various types of commercial loans.”
More notable recent Medallion Financial Corp (NASDAQ:MFIN) news were published by: Businesswire.com which released: “Medallion Financial Corp. Reports 2016 First Quarter Results and Announces …” on May 10, 2016, also Businesswire.com with their article: “Medallion Financial Corp. Reports 2016 Second Quarter Results” published on August 02, 2016, Marketwatch.com published: “Medallion Financial pivots as taxi business is threatened by Uber, Lyft” on February 17, 2016. More interesting news about Medallion Financial Corp (NASDAQ:MFIN) were released by: Businesswire.com and their article: “Medallion Financial Corp. Increases Size of Notes Offering to $30 Million” published on April 13, 2016 as well as Barrons.com‘s news article titled: “Time to Hail Medallion Financial Shares” with publication date: September 19, 2015.
MFIN Company Profile
Medallion Financial Corp., incorporated on October 20, 1995, is a closed-end, non-diversified management investment company. The Firm 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 Firm operates in lending and investing activities segment. It originates and services medallion, secured commercial, and consumer loans, and invests in both marketable and nonmarketable securities. The Company’s subsidiary, Medallion Bank, also originates consumer loans for the purchase of recreational vehicles, boats, motorcycles, trailers, and to finance small-scale home improvements. The Firm also conducts business through its asset lending division, Medallion Business Credit, an originator of loans to small businesses for the purpose of financing inventory and receivables. The Company’s subsidiaries include Medallion Funding LLC (Medallion Funding), the Company’s primary taxicab medallion lending company; Medallion Capital, Inc. (Medallion Capital), which conducts a mezzanine financing business, and Freshstart Venture Capital Corp. (Freshstart), which originates and services taxicab medallion and commercial loans.
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