BidaskClub downgraded shares of Moneygram International, Inc. (NASDAQ:MGI) from a hold rating to a sell rating in a research note published on Wednesday, July 19th.
Several other brokerages have also recently commented on MGI. Zacks Investment Research cut shares of Moneygram International from a buy rating to a hold rating in a research note on Tuesday, May 16th. ValuEngine upgraded shares of Moneygram International from a hold rating to a buy rating in a research note on Friday, June 2nd. Morgan Stanley reiterated an equal weight rating and issued a $18.00 price target (up previously from $15.00) on shares of Moneygram International in a research note on Monday, June 19th. Northland Securities reiterated a hold rating and issued a $17.39 price target on shares of Moneygram International in a research note on Friday, June 30th. Finally, Feltl & Co. cut shares of Moneygram International from a hold rating to a sell rating in a research report on Monday, April 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $14.93.
Shares of Moneygram International (MGI) traded up 0.43% during midday trading on Wednesday, hitting $16.32. The company had a trading volume of 597,258 shares. The stock has a 50 day moving average price of $17.02 and a 200 day moving average price of $15.65. Moneygram International has a 1-year low of $5.83 and a 1-year high of $17.92. The firm has a market capitalization of $881.88 million, a P/E ratio of 37.09 and a beta of 1.94.
Moneygram International (NASDAQ:MGI) last announced its quarterly earnings results on Thursday, May 4th. The financial services provider reported $0.26 EPS for the quarter, topping the consensus estimate of $0.21 by $0.05. The business had revenue of $386.10 million for the quarter, compared to analysts’ expectations of $387.92 million. Moneygram International had a net margin of 1.87% and a negative return on equity of 12.41%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 EPS. On average, equities analysts anticipate that Moneygram International will post $1.05 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. American International Group Inc. boosted its stake in shares of Moneygram International by 7.1% in the first quarter. American International Group Inc. now owns 18,227 shares of the financial services provider’s stock valued at $306,000 after buying an additional 1,208 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Moneygram International by 34.1% in the first quarter. Bank of America Corp DE now owns 7,918 shares of the financial services provider’s stock valued at $133,000 after buying an additional 2,015 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Moneygram International by 7.4% in the first quarter. Teachers Advisors LLC now owns 58,782 shares of the financial services provider’s stock valued at $988,000 after buying an additional 4,043 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Moneygram International by 3.8% in the first quarter. Parametric Portfolio Associates LLC now owns 134,909 shares of the financial services provider’s stock valued at $2,268,000 after buying an additional 4,929 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Moneygram International by 5.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 116,195 shares of the financial services provider’s stock valued at $1,954,000 after buying an additional 6,498 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.
Moneygram International Company Profile
MoneyGram International, Inc (MoneyGram) is a global provider of money transfer services. The Company operates through two segments: Global Funds Transfer and Financial Paper Products. The Company offers its services under the MoneyGram brand. The Company’s Global Funds Transfer Segment provides money transfer services and bill payment services primarily to unbanked and underbanked consumers.
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