Medallion Financial Corp. ( TAXI ) saw a big move in the last trading session, as the company's shares fell by over 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for TAXI, as the stock is down over 10% in the last one month.
This slump shouldn't be too much of a surprise to investors, as the specialty finance company has seen 1 negative revision in the past few weeks and its current year earnings consensus has also moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
TAXI currently holds a Zacks Rank #4 (Sell) while its Earnings ESP
Investors interested in the Finance sector may consider better-ranked stocks like AmTrust Financial Services, Inc.
), Arlington Asset Investment Corp.
) and Banco do Brasil S.A.
), each of which holds a Zacks Rank #1 (Strong Buy).
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportMEDALLION FINL (TAXI): Get Free ReportAMTRUST FIN SVC (AFSI): Free Stock Analysis ReportARLINGTON ASSET (AI): Free Stock Analysis ReportBANCO DO BRASIL (BDORY): Get Free ReportTo read this article on Zacks.com click here.Zacks Investment Research