Moneygram International (MGI) Downgraded by J P Morgan Chase & Co to “Underweight”

Moneygram International (NASDAQ:MGI) was downgraded by J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a report released on Tuesday, Marketbeat Ratings reports.

Several other research analysts have also weighed in on MGI. ValuEngine raised Moneygram International from a “hold” rating to a “buy” rating in a research report on Saturday, December 9th. BidaskClub raised Moneygram International from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 30th. Finally, Northland Securities reissued a “hold” rating on shares of Moneygram International in a research report on Tuesday, September 5th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.21.

Shares of Moneygram International (MGI) traded up $0.32 during trading on Tuesday, hitting $13.33. The stock had a trading volume of 400,296 shares, compared to its average volume of 256,903. The firm has a market capitalization of $722.90, a price-to-earnings ratio of 16.26 and a beta of 1.91. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of -2.47. Moneygram International has a 12 month low of $11.26 and a 12 month high of $17.92.

Large investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA grew its stake in 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 purchasing an additional 3,618 shares in the last quarter. Bank of America Corp DE grew its stake in 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 purchasing an additional 2,015 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Moneygram International in the third quarter valued at about $145,000. Alps Advisors Inc. purchased a new position in Moneygram International in the second quarter valued at about $178,000. Finally, Dumac Inc. purchased a new position in Moneygram International in the second quarter valued at about $203,000. 91.12% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Moneygram International (NASDAQ:MGI)

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