Investors Purchase High Volume of Moneygram International Put Options (MGI)

Moneygram International Inc (NASDAQ:MGI) was the target of unusually large options trading on Thursday. Traders purchased 1,840 put options on the stock. This represents an increase of 2,090% compared to the typical daily volume of 84 put options.

Several hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA lifted its stake in shares of Moneygram International by 108.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,942 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 3,618 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Moneygram International in the 3rd quarter valued at approximately $145,000. Voya Investment Management LLC lifted its stake in shares of Moneygram International by 20.8% in the 2nd quarter. Voya Investment Management LLC now owns 14,878 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 2,562 shares during the period. Alps Advisors Inc. lifted its stake in shares of Moneygram International by 107.9% in the 3rd quarter. Alps Advisors Inc. now owns 21,456 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 11,137 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of Moneygram International by 4.8% in the 2nd quarter. Wells Fargo & Company MN now owns 21,129 shares of the financial services provider’s stock valued at $365,000 after purchasing an additional 973 shares during the period. Hedge funds and other institutional investors own 91.12% of the company’s stock.

Shares of Moneygram International (NASDAQ:MGI) opened at $12.65 on Friday. The firm has a market capitalization of $686.03, a P/E ratio of 28.11 and a beta of 1.92. Moneygram International has a 1 year low of $11.26 and a 1 year high of $17.92. The company has a debt-to-equity ratio of -2.47, a current ratio of 0.05 and a quick ratio of 0.05.

MGI has been the topic of several recent research reports. ValuEngine upgraded Moneygram International from a “hold” rating to a “buy” rating in a research report on Saturday, December 9th. BidaskClub lowered Moneygram International from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. Zacks Investment Research lowered Moneygram International from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. lowered Moneygram International from a “neutral” rating to an “underweight” rating in a research report on Tuesday, December 12th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $16.21.

TRADEMARK VIOLATION NOTICE: This piece of content was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece of content on another domain, it was stolen and reposted in violation of U.S. & international copyright & trademark laws. The correct version of this piece of content can be accessed at https://ledgergazette.com/2018/01/14/investors-purchase-high-volume-of-moneygram-international-put-options-mgi.html.

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.

Receive News & Ratings for Moneygram International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moneygram International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply