Medallion Financial jumps after Q4 profit beat
ReutersMar 5, 2025 7:47 PM
** Shares of specialty finance company Medallion Financial MFIN.O jump as much 11.1%; last up 8.3% at $8.85
** Late Tuesday, MFIN reported Q4 profit above Wall Street expectations, its first earnings beat since Q1 2024
** Co, during the quarter, also reached a $3 million settlement agreement with the U.S. Securities and Exchange Commission (SEC), which is subject to approval by the regulator's commissioners and court
** SEC in 2021 sued MFIN and its CEO for allegedly engaging in fraudulent schemes to boost stock price
** Northland Securities says the settlement agreement is a significant development for MFIN
** The two brokerages covering the stock rate it "hold" — LSEG data
** MFIN stock down 5.6% YTD
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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