Moneygram International (NASDAQ:MGI) was downgraded by analysts at Evercore ISI from an “in-line” rating to an “underperform” rating in a note issued to investors on Friday, MarketBeat.com reports.
Other analysts have also recently issued research reports about the company. BidaskClub raised Moneygram International from a “strong sell” rating to a “sell” rating in a report on Thursday, August 30th. Morgan Stanley lowered their price target on Moneygram International from $7.00 to $6.50 and set an “equal weight” rating on the stock in a report on Monday, August 6th. Finally, Zacks Investment Research raised Moneygram International from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a report on Friday, August 10th. Four equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Moneygram International has a consensus rating of “Sell” and an average target price of $6.63.
Shares of NASDAQ MGI opened at $2.27 on Friday. Moneygram International has a 52 week low of $2.23 and a 52 week high of $15.05. The stock has a market capitalization of $243.56 million, a price-to-earnings ratio of 2.58 and a beta of 2.02.
Moneygram International (NASDAQ:MGI) last issued its earnings results on Friday, November 9th. The financial services provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.16 by $0.08. Moneygram International had a negative return on equity of 8.32% and a negative net margin of 2.27%. The business had revenue of $347.20 million during the quarter, compared to the consensus estimate of $378.73 million. The company’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities analysts expect that Moneygram International will post 0.51 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the business. Teton Advisors Inc. raised its holdings in shares of Moneygram International by 143.4% during the 3rd quarter. Teton Advisors Inc. now owns 296,500 shares of the financial services provider’s stock valued at $1,586,000 after buying an additional 174,707 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Moneygram International by 5.7% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 279,875 shares of the financial services provider’s stock valued at $1,872,000 after buying an additional 15,075 shares in the last quarter. Martingale Asset Management L P purchased a new position in shares of Moneygram International during the 2nd quarter valued at about $203,000. Gabelli Funds LLC raised its holdings in shares of Moneygram International by 126.9% during the 2nd quarter. Gabelli Funds LLC now owns 541,146 shares of the financial services provider’s stock valued at $3,620,000 after buying an additional 302,614 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Moneygram International by 1,349.4% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 341,088 shares of the financial services provider’s stock valued at $2,282,000 after buying an additional 317,555 shares in the last quarter. 85.85% of the stock is currently owned by hedge funds and other institutional investors.
About Moneygram International
MoneyGram International, Inc, together with its subsidiaries, provides money transfer services in the United States and internationally. The company operates through two segments, Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment offers money transfer services and bill payment services primarily to unbanked and underbanked consumers.
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