Medallion Financial jumps after Q4 profit beat

Medallion Financial

05/03/2025 19:47

** 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

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))