Moneygram International, Inc. (MGI) Given Average Recommendation of “Hold” by Brokerages
Moneygram International, Inc. (NASDAQ:MGI) has been given an average rating of “Hold” by the eight ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $18.00.
Several equities research analysts have commented on MGI shares. ValuEngine cut Moneygram International from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Northland Securities restated a “hold” rating on shares of Moneygram International in a research note on Tuesday, September 5th. Finally, BidaskClub cut Moneygram International from a “hold” rating to a “sell” rating in a research note on Saturday.
Several institutional investors have recently made changes to their positions in MGI. Renaissance Technologies LLC raised its stake in shares of Moneygram International by 122.9% during the 1st quarter. Renaissance Technologies LLC now owns 1,412,391 shares of the financial services provider’s stock worth $23,742,000 after purchasing an additional 778,700 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Moneygram International by 7,472.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 733,103 shares of the financial services provider’s stock worth $12,646,000 after purchasing an additional 723,422 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Moneygram International by 807.7% during the 2nd quarter. SG Americas Securities LLC now owns 755,589 shares of the financial services provider’s stock worth $13,034,000 after purchasing an additional 672,344 shares in the last quarter. State of Wisconsin Investment Board bought a new stake in shares of Moneygram International during the 2nd quarter worth approximately $9,065,000. Finally, Paulson & CO. Inc. acquired a new position in shares of Moneygram International during the 2nd quarter worth approximately $7,520,000. Institutional investors own 93.93% of the company’s stock.
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Moneygram International (MGI) opened at 15.74 on Friday. Moneygram International has a 12-month low of $5.83 and a 12-month high of $17.92. The company has a 50-day moving average price of $15.97 and a 200-day moving average price of $16.62. The firm has a market cap of $853.33 million, a P/E ratio of 32.39 and a beta of 1.96.
Moneygram International (NASDAQ:MGI) last released its earnings results on Monday, August 7th. The financial services provider reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.05. The firm had revenue of $410.00 million for the quarter, compared to analysts’ expectations 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 business posted $0.15 EPS. On average, analysts predict that Moneygram International will post $1.07 earnings per share for the current year.
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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