Medallion Financials' Investor ZimCal Disturbed By Q2 Results; Says 'Results Show Worrying Trends That Must Be Addressed Immediately'
Portfolio Pulse from Benzinga Newsdesk
ZimCal Asset Management, a major investor in Medallion Financial Corp. (MFIN), expresses concern over the company's Q2 2024 results, highlighting poor trends in core charge-offs, ROAA, ROAE, and cash-burn. Despite market skepticism, ZimCal sees potential upside with improved governance and leadership.
August 20, 2024 | 7:35 pm
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Medallion Financial Corp. faces criticism from major investor ZimCal over poor Q2 2024 results, including low ROAA, ROAE, and high cash-burn. ZimCal urges for improved governance and leadership to address these issues.
ZimCal, a significant investor, highlights concerning trends in MFIN's Q2 results, such as low ROAA and high cash-burn. Their call for improved governance suggests potential instability, likely impacting short-term stock prices negatively.
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