Parametric Portfolio Associates LLC Boosts Stake in Moneygram International, Inc. (MGI)
Parametric Portfolio Associates LLC increased its position in Moneygram International, Inc. (NASDAQ:MGI) by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,909 shares of the financial services provider’s stock after buying an additional 4,929 shares during the period. Parametric Portfolio Associates LLC owned about 0.26% of Moneygram International worth $2,268,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of MGI. Russell Investments Group Ltd. acquired a new position in shares of Moneygram International during the fourth quarter worth $144,000. State Street Corp increased its position in Moneygram International by 7.7% in the fourth quarter. State Street Corp now owns 490,053 shares of the financial services provider’s stock valued at $5,786,000 after buying an additional 35,026 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Moneygram International by 31.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 802,709 shares of the financial services provider’s stock valued at $9,480,000 after buying an additional 193,429 shares in the last quarter. Renaissance Technologies LLC increased its stake in Moneygram International by 89.3% in the fourth quarter. Renaissance Technologies LLC now owns 633,691 shares of the financial services provider’s stock valued at $7,484,000 after buying an additional 298,987 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in Moneygram International by 595.8% in the fourth quarter. Two Sigma Investments LP now owns 214,266 shares of the financial services provider’s stock valued at $2,530,000 after buying an additional 183,472 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.
Moneygram International, Inc. (NASDAQ:MGI) traded down 0.82% on Friday, hitting $15.64. 953,981 shares of the stock traded hands. Moneygram International, Inc. has a 52-week low of $5.83 and a 52-week high of $17.92. The company’s 50 day moving average price is $16.96 and its 200-day moving average price is $15.76. The stock has a market cap of $845.14 million, a price-to-earnings ratio of 35.55 and a beta of 1.92.
Moneygram International (NASDAQ:MGI) last posted its earnings results on Thursday, May 4th. The financial services provider reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $386.10 million for the quarter, compared to the consensus estimate of $387.92 million. Moneygram International had a net margin of 1.87% and a negative return on equity of 12.41%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 EPS. On average, analysts forecast that Moneygram International, Inc. will post $1.06 earnings per share for the current fiscal year.
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Several equities research analysts have issued reports on MGI shares. ValuEngine upgraded Moneygram International from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Morgan Stanley restated an “equal weight” rating and set a $18.00 target price (up previously from $15.00) on shares of Moneygram International in a research report on Monday, June 19th. Northland Securities restated a “hold” rating and set a $17.39 target price on shares of Moneygram International in a research report on Friday, June 30th. Zacks Investment Research downgraded Moneygram International from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Finally, BidaskClub cut shares of Moneygram International from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Moneygram International has an average rating of “Hold” and a consensus target price of $14.93.
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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