Medallion Financial Corp Sees Significant Increase in Short Interest (TAXI)

Shares of Medallion Financial Corp (NASDAQ:TAXI) were the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 1,768,569 shares, an increase of 59.8% from the November 28th total of 1,106,576 shares, Analyst Ratings News reports. Currently, 8.1% of the company’s stock are short sold. Based on an average daily trading volume, of 419,031 shares, the days-to-cover ratio is presently 4.2 days.

A number of analysts have recently weighed in on TAXI shares. Analysts at Keefe, Bruyette & Woods cut their price target on shares of Medallion Financial Corp from $13.00 to $12.00 in a research note on Friday, December 12th. They now have an “outperform” rating on the stock. Analysts at TheStreet downgraded shares of Medallion Financial Corp from a “buy” rating to a “hold” rating in a research note on Friday, November 28th.

Shares of Medallion Financial Corp (NASDAQ:TAXI) opened at 10.01 on Friday. Medallion Financial Corp has a 1-year low of $9.16 and a 1-year high of $14.75. The stock has a 50-day moving average of $10.4 and a 200-day moving average of $11.4. The company has a market cap of $249.5 million and a price-to-earnings ratio of 8.96.

Medallion Financial Corp (NASDAQ:TAXI) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by $0.03. The company had revenue of $9.30 million for the quarter, compared to the consensus estimate of $8.80 million. Analysts expect that Medallion Financial Corp will post $1.13 EPS for the current fiscal year.

Medallion Financial Corp. is a specialty finance company that is engaged in originating, acquiring, and servicing loans that finance taxicab medallions and various types of commercial businesses.

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