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
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