Moneygram International Inc (MGI) Short Interest Update

Moneygram International Inc (NASDAQ:MGI) was the target of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 1,336,239 shares, a decline of 39.2% from the January 12th total of 2,198,150 shares. Approximately 4.8% of the company’s stock are short sold. Based on an average daily trading volume, of 789,137 shares, the short-interest ratio is presently 1.7 days.

Several analysts have weighed in on the stock. ValuEngine upgraded shares of Moneygram International from a “hold” rating to a “buy” rating in a research note on Saturday, December 9th. JPMorgan Chase & Co. lowered shares of Moneygram International from a “neutral” rating to an “underweight” rating in a research note on Tuesday, December 12th. BidaskClub lowered shares of Moneygram International from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 4th. Finally, Zacks Investment Research lowered shares of Moneygram International from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Moneygram International currently has a consensus rating of “Hold” and an average target price of $17.70.

A number of hedge funds have recently added to or reduced their stakes in MGI. Teacher Retirement System of Texas bought a new stake in Moneygram International during the fourth quarter valued at $133,000. Victory Capital Management Inc. bought a new stake in Moneygram International during the third quarter valued at $145,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in Moneygram International during the fourth quarter valued at $250,000. Voya Investment Management LLC boosted its holdings in shares of Moneygram International by 20.8% during the second quarter. Voya Investment Management LLC now owns 14,878 shares of the financial services provider’s stock valued at $257,000 after acquiring an additional 2,562 shares during the period. Finally, Alps Advisors Inc. boosted its holdings in shares of Moneygram International by 107.9% during the third quarter. Alps Advisors Inc. now owns 21,456 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 11,137 shares during the period. Hedge funds and other institutional investors own 90.35% of the company’s stock.

Shares of Moneygram International (NASDAQ:MGI) opened at $10.94 on Monday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of -2.47. Moneygram International has a 12 month low of $9.92 and a 12 month high of $17.92. The firm has a market cap of $593.29, a price-to-earnings ratio of 24.31 and a beta of 1.79.

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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.

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