Northland Securities Sticks to Their Buy Rating for Medallion Financial (MFIN)

By Jason Carr

In a report released today, Michael Grondahl from Northland Securities maintained a Buy rating on Medallion Financial (MFINResearch Report), with a price target of $12. The company’s shares closed on Friday at $6.88, close to its 52-week high of $7.29.

Grondahl commented:

“We believe 2019 should be about even more progress. Recently, MFIN announced a $30M note offering at 8.25%. Proceeds from the raise are expected to be used for increasing the capital base at Medallion Bank, possibly working through some legacy debt at a discount and strategic options.”

According to TipRanks.com, Grondahl is a 5-star analyst with an average return of 26.1% and a 69.0% success rate. Grondahl covers the Financial sector, focusing on stocks such as Front Yard Residential Corporation, Altisource Portfolio Solutions SA, and Health Insurance Innovations.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Medallion Financial with a $10.67 average price target.

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The company has a one-year high of $7.29 and a one-year low of $3.59. Currently, Medallion Financial has an average volume of 93.71K.

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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.