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Medalion’s SEC Charges Increase Sale Probability, Says B. Riley -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — SEC accuses Medallion Financial Steve Moss, analyst at B. Riley believes that Corp (NASDAQ:), and Andrew Murstein, its President could have increased sales prospects.

The Wednesday evening news will be SEC announcedThe charges were brought against the company for illegally advertising the company through the payment of Ichabod’s Cranium (a media strategist company) and others. These stories included positive reviews about the company that appeared on TheStreet.com and Seeking Alpha.

Medallion shares dropped 21% to close the day. On Thursday, shares are also down 3.3%

Moss, a B. Riley analyst, stated in a research paper that there is “considerable uncertainty regarding the future direction” of the company.

Moss maintained a Buy rating on the stock and a $13 price target. He also stated that news of the sale of Medallion Financial has increased the likelihood of it being sold along with its bank subsidiary. Moss also explained that Medallion Financial’s “current high liquidity environment” is perfect for selling an asset generator such as Medallion Financial.

Mike Grondahl from Northland shared a similar opinion, stating that the charges would accelerate an asset sales. Investors could be accelerated by the sale of Medallion Bank (a key asset of Medallion Financial), Grondahl stated.

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