Alps Advisors Inc. purchased a new stake in Moneygram International, Inc. (NASDAQ:MGI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,319 shares of the financial services provider’s stock, valued at approximately $178,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Moneygram International during the first quarter worth $1,399,000. OMERS ADMINISTRATION Corp purchased a new stake in Moneygram International during the first quarter worth $9,240,000. Alambic Investment Management L.P. raised its stake in Moneygram International by 183.3% in the first quarter. Alambic Investment Management L.P. now owns 32,300 shares of the financial services provider’s stock worth $543,000 after buying an additional 20,900 shares in the last quarter. Kassirer Asset Management Corp purchased a new stake in Moneygram International during the first quarter worth $684,000. Finally, Parametric Portfolio Associates LLC raised its stake in Moneygram International by 3.8% in the first quarter. Parametric Portfolio Associates LLC now owns 134,909 shares of the financial services provider’s stock worth $2,268,000 after buying an additional 4,929 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Shares of Moneygram International, Inc. (MGI) opened at 15.81 on Thursday. The stock’s 50 day moving average is $16.17 and its 200-day moving average is $16.12. Moneygram International, Inc. has a one year low of $5.83 and a one year high of $17.92. The stock has a market cap of $857.12 million, a P/E ratio of 32.53 and a beta of 1.92.

Moneygram International (NASDAQ:MGI) last released its quarterly earnings results on Monday, August 7th. The financial services provider reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. The company had revenue of $410 million for the quarter, compared to analyst estimates of $417.61 million. Moneygram International had a negative return on equity of 14.11% and a net margin of 2.03%. During the same quarter in the previous year, the company posted $0.15 earnings per share. On average, equities analysts forecast that Moneygram International, Inc. will post $1.06 EPS for the current year.

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A number of analysts have weighed in on the stock. Northland Securities restated a “hold” rating and set a $17.39 price objective on shares of Moneygram International in a research note on Friday, June 30th. Morgan Stanley restated an “equal weight” rating and set a $18.00 price objective (up from $15.00) on shares of Moneygram International in a research note on Monday, June 19th. ValuEngine upgraded shares of Moneygram International from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub lowered shares of Moneygram International from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Zacks Investment Research lowered shares of Moneygram International from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus 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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Institutional Ownership by Quarter for Moneygram International (NASDAQ:MGI)

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