Notable Reporting: Medallion Financial Corp Sets 52-Week Low; Strong Momentum for Sellers

Notable Reporting: Medallion Financial Corp Sets 52 Week Low; Strong Momentum for Sellers

The stock of Medallion Financial Corp (NASDAQ:MFIN) hit a new 52-week low and has $3.20 target or 10.00% below today’s $3.55 share price. The 9 months bearish chart indicates high risk for the $83.81 million company. The 1-year low was reported on Oct, 31 by Barchart.com. If the $3.20 price target is reached, the company will be worth $8.38 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 168,581 shares traded hands or 38.90% up from the average. Medallion Financial Corp (NASDAQ:MFIN) has declined 62.43% since March 29, 2016 and is downtrending. It has underperformed by 65.91% the S&P500.

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: Marketwatch.com which released: “Medallion Financial pivots as taxi business is threatened by Uber, Lyft” on February 17, 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 Corp.” on January 31, 2012. More interesting news about Medallion Financial Corp (NASDAQ:MFIN) were released by: Businesswire.com and their article: “Medallion Financial Corp. Reports 2016 First Quarter Results and Announces …” published on May 10, 2016 as well as Fool.com‘s news article titled: “Medallion Financial Corp.: A Highly Leveraged Bet Against Uber” with publication date: March 26, 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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