Moneygram International Inc (MGI) Given Average Recommendation of “Hold” by Analysts

Moneygram International Inc (NASDAQ:MGI) has earned a consensus recommendation of “Hold” from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $18.00.

A number of analysts recently commented on the stock. ValuEngine downgraded shares of Moneygram International from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. BidaskClub upgraded shares of Moneygram International from a “strong sell” rating to a “sell” rating in a report on Saturday, September 30th. Zacks Investment Research downgraded shares of Moneygram International from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. downgraded shares of Moneygram International from a “neutral” rating to an “underweight” rating in a report on Tuesday, December 12th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGI. Vanguard Group Inc. raised its holdings in shares of Moneygram International by 13.1% during the second quarter. Vanguard Group Inc. now owns 2,289,495 shares of the financial services provider’s stock valued at $39,494,000 after acquiring an additional 264,925 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Moneygram International by 32.8% during the second quarter. Renaissance Technologies LLC now owns 1,875,291 shares of the financial services provider’s stock valued at $32,349,000 after acquiring an additional 462,900 shares during the period. State of Wisconsin Investment Board raised its holdings in shares of Moneygram International by 190.7% during the third quarter. State of Wisconsin Investment Board now owns 1,527,444 shares of the financial services provider’s stock valued at $24,607,000 after acquiring an additional 1,001,944 shares during the period. Sand Grove Capital Management LLP raised its holdings in shares of Moneygram International by 5.6% during the third quarter. Sand Grove Capital Management LLP now owns 1,194,122 shares of the financial services provider’s stock valued at $19,273,000 after acquiring an additional 63,618 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Moneygram International by 7,472.6% during the second quarter. JPMorgan Chase & Co. now owns 733,103 shares of the financial services provider’s stock valued at $12,646,000 after acquiring an additional 723,422 shares during the period. Institutional investors and hedge funds own 91.12% of the company’s stock.

Shares of Moneygram International (NASDAQ MGI) opened at $11.71 on Friday. 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 fifty-two week low of $11.26 and a fifty-two week high of $17.92. The company has a market cap of $721.82, a P/E ratio of 26.02 and a beta of 1.92.

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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.

Analyst Recommendations for Moneygram International (NASDAQ:MGI)

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