Moneygram International, Inc. (MGI) Receives Average Rating of “Hold” from Brokerages
Moneygram International, Inc. (NASDAQ:MGI) has earned an average rating of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. 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 on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $14.46.
A number of research firms have commented on MGI. Zacks Investment Research lowered Moneygram International from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Northland Securities reissued a “hold” rating and issued a $17.39 target price on shares of Moneygram International in a report on Friday, June 30th. Morgan Stanley reissued an “equal weight” rating and issued a $18.00 target price (up previously from $15.00) on shares of Moneygram International in a report on Monday, June 19th. Feltl & Co. lowered Moneygram International from a “hold” rating to a “sell” rating in a report on Monday, April 17th. Finally, BidaskClub lowered Moneygram International from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th.
Hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its stake in shares of Moneygram International by 108.8% in the second quarter. BNP Paribas Arbitrage SA now owns 6,942 shares of the financial services provider’s stock valued at $120,000 after buying an additional 3,618 shares during the last quarter. Bank of America Corp DE raised 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 during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Moneygram International during the fourth quarter valued at approximately $144,000. Teton Advisors Inc. purchased a new stake in shares of Moneygram International during the first quarter valued at approximately $168,000. Finally, Alps Advisors Inc. purchased a new stake in shares of Moneygram International during the second quarter valued at approximately $178,000. 89.74% of the stock is owned by institutional investors.
Moneygram International (NASDAQ:MGI) opened at 15.67 on Tuesday. The company has a market cap of $846.76 million, a P/E ratio of 35.61 and a beta of 1.92. The firm has a 50-day moving average price of $16.96 and a 200-day moving average price of $15.76. Moneygram International has a 52 week low of $5.83 and a 52 week high of $17.92.
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About Moneygram International
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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