The stock of Medallion Financial Corp (NASDAQ:MFIN) is a huge mover today! About 277,527 shares traded hands or 70.82% up from the average. Medallion Financial Corp (NASDAQ:MFIN) has declined 57.29% since April 13, 2016 and is downtrending. It has underperformed by 61.22% the S&P500.
The move comes after 5 months negative chart setup for the $83.41M company. It was reported on Nov, 15 by Barchart.com. We have $2.96 PT which if reached, will make NASDAQ:MFIN worth $11.68M less.
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 Marketwatch.com with their article: “Medallion Financial Corp.” published on January 31, 2012, Businesswire.com published: “Medallion Financial Corp. Reports 2016 Second Quarter Results” on August 02, 2016. More interesting news about Medallion Financial Corp (NASDAQ:MFIN) were released by: Businesswire.com and their article: “Medallion Financial Corp. Announces Sale of Its Asset Based Lending Division …” published on October 04, 2016 as well as Businesswire.com‘s news article titled: “CORRECTING and REPLACING Medallion Financial Corp. Reports 2016 Third Quarter …” with publication date: November 07, 2016.
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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