BidaskClub lowered shares of Moneygram International, Inc. (NASDAQ:MGI) from a sell rating to a strong sell rating in a research report report published on Wednesday.
Other analysts have also recently issued reports about the company. Northland Securities reiterated a hold rating and issued a $17.39 target price on shares of Moneygram International in a report on Friday, June 30th. Morgan Stanley restated an equal weight rating and set a $18.00 price target (up from $15.00) on shares of Moneygram International in a report on Monday, June 19th. Finally, ValuEngine upgraded Moneygram International from a hold rating to a buy rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $14.93.
Shares of Moneygram International (MGI) opened at 16.13 on Wednesday. Moneygram International has a 12 month low of $5.83 and a 12 month high of $17.92. The firm has a market cap of $874.47 million, a PE ratio of 33.19 and a beta of 1.92. The company’s 50 day moving average is $15.86 and its 200-day moving average is $16.56.
Moneygram International (NASDAQ:MGI) last issued its earnings results on Monday, August 7th. The financial services provider reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.05. The firm had revenue of $410.00 million during the quarter, compared to the consensus estimate of $417.61 million. Moneygram International had a negative return on equity of 14.11% and a net margin of 2.03%. During the same quarter in the previous year, the firm earned $0.15 earnings per share. Equities research analysts predict that Moneygram International will post $1.07 EPS for the current year.
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Several institutional investors and hedge funds have recently modified their holdings of MGI. BNP Paribas Arbitrage SA boosted its position in shares of Moneygram International by 108.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,942 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 3,618 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Moneygram International by 34.1% during the 1st 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. Alps Advisors Inc. purchased a new position in shares of Moneygram International during the 2nd quarter valued at about $178,000. Engineers Gate Manager LP purchased a new position in shares of Moneygram International during the 1st quarter valued at about $192,000. Finally, UBS Asset Management Americas Inc. purchased a new position in shares of Moneygram International during the 1st quarter valued at about $202,000. Hedge funds and other institutional investors own 93.93% 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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