Moneygram International (MGI) Stock Price Up 7.6%

Moneygram International Inc (NASDAQ:MGI) shares rose 7.6% on Wednesday . The stock traded as high as $1.87 and last traded at $1.83. Approximately 581,696 shares were traded during trading, an increase of 12% from the average daily volume of 521,121 shares. The stock had previously closed at $1.70.

A number of analysts have commented on the stock. Northland Securities raised shares of Moneygram International from a “market perform” rating to an “outperform” rating and set a $5.50 target price for the company in a report on Wednesday, April 3rd. They noted that the move was a valuation call. ValuEngine raised shares of Moneygram International from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Four research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Moneygram International has a consensus rating of “Hold” and a consensus price target of $5.19.

The firm has a market cap of $94.74 million, a P/E ratio of 4.26 and a beta of 1.97.



Moneygram International (NASDAQ:MGI) last announced its earnings results on Wednesday, May 8th. The financial services provider reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.08). Moneygram International had a negative net margin of 3.22% and a negative return on equity of 4.67%. The business had revenue of $315.40 million for the quarter, compared to analysts’ expectations of $332.98 million. During the same period in the prior year, the company posted $0.15 earnings per share. The firm’s quarterly revenue was down 17.0% on a year-over-year basis. Analysts anticipate that Moneygram International Inc will post 0.19 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in MGI. SG Americas Securities LLC boosted its position in shares of Moneygram International by 77.2% in the fourth quarter. SG Americas Securities LLC now owns 22,816 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 9,942 shares during the period. Group One Trading L.P. boosted its position in shares of Moneygram International by 886.0% in the fourth quarter. Group One Trading L.P. now owns 27,609 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 24,809 shares during the period. Rhumbline Advisers boosted its position in shares of Moneygram International by 43.4% in the fourth quarter. Rhumbline Advisers now owns 44,422 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 13,437 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Moneygram International by 3,829.6% in the fourth quarter. Meeder Asset Management Inc. now owns 46,605 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 45,419 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of Moneygram International by 129.8% in the fourth quarter. Jane Street Group LLC now owns 47,861 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 27,030 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

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Moneygram International Company Profile (NASDAQ:MGI)

MoneyGram International, Inc, together with its subsidiaries, provides money transfer services in the United States and internationally. The company operates through two segments, Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment offers money transfer services and bill payment services primarily to unbanked and underbanked consumers.

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