Here is What Hedge Funds Think About Medallion Financial Corp (MFIN)

As industrywide interest jumped, specific money managers were breaking ground themselves. Citadel Investment Group, led by Ken Griffin, created the most outsized call position in Medallion Financial Corp (NASDAQ:MFIN). Citadel Investment Group had $0.2 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $0.1 million investment in the stock during the quarter. The other funds with new positions in the stock are John A. Levin’s Levin Capital Strategies and Phillip Goldstein, Andrew Dakos and Steven Samuels’s Bulldog Investors.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Medallion Financial Corp (NASDAQ:MFIN) but similarly valued. We will take a look at BIOLASE Inc (NASDAQ:BIOL), Nabriva Therapeutics AG-ADR (NASDAQ:NBRV), Crown Crafts, Inc. (NASDAQ:CRWS), and First Trust Strategic High Income Fd II (NYSE:FHY). This group of stocks’ market valuations resemble MFIN’s market valuation.

As you can see these stocks had an average of five funds with bullish positions and the average amount invested in these stocks was $12 million. That figure was $3 million in MFIN’s case. BIOLASE Inc (NASDAQ:BIOL) is the most popular stock in this table. On the other hand First Trust Strategic High Income Fd II (NYSE:FHY) is the least popular one with only two funds holding shares. Medallion Financial Corp (NASDAQ:MFIN) enjoys the same level of popularity as BIOL, which suggests that it may be a good idea to analyze it in more detail and potentially acquiring a long position in it.

Disclosure: none