In a report issued on November 13, Michael Grondahl from Northland Securities reiterated a Buy rating on Medallion Financial (MFIN), with a price target of $12. The company’s shares closed on Friday at $6.13.
According to TipRanks.com, Grondahl is a top 100 analyst with an average return of 30.6% and a 70.2% success rate. Grondahl covers the Financial sector, focusing on stocks such as Health Insurance Innovations, WisdomTree Investments, and Lendingtree Inc.
Currently, the analyst consensus on Medallion Financial is a Moderate Buy with an average price target of $10, implying a 63.1% upside from current levels. In a report issued on November 6, B.Riley FBR also assigned a Buy rating to the stock with a $10 price target.
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Based on Medallion Financial’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $4.7 million. In comparison, last year the company had a net profit of $619K.
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Medallion Financial Corp. is a closed-end, non-diversified management company which engages in lending and investing operations. It focuses on consumer finance portfolio including medallion, secured commercial, and consumer loans, and invests in both marketable and nonmarketable securities.
