IndexIQ Advisors LLC Purchases Shares of 60,848 Moneygram International, Inc. (MGI)
IndexIQ Advisors LLC purchased a new position in Moneygram International, Inc. (NASDAQ:MGI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,848 shares of the financial services provider’s stock, valued at approximately $1,050,000. IndexIQ Advisors LLC owned about 0.11% of Moneygram International at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in MGI. BNP Paribas Arbitrage SA boosted its stake in Moneygram International by 108.8% in the second quarter. BNP Paribas Arbitrage SA now owns 6,942 shares of the financial services provider’s stock valued at $120,000 after buying an additional 3,618 shares in the last quarter. Bank of America Corp DE boosted its stake in Moneygram International by 34.1% in the first quarter. Bank of America Corp DE now owns 7,918 shares of the financial services provider’s stock valued at $133,000 after buying an additional 2,015 shares in the last quarter. Teton Advisors Inc. bought a new stake in Moneygram International during the first quarter valued at approximately $168,000. Alps Advisors Inc. bought a new stake in Moneygram International during the second quarter valued at approximately $178,000. Finally, Engineers Gate Manager LP bought a new stake in Moneygram International during the first quarter valued at approximately $192,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.
Moneygram International, Inc. (NASDAQ:MGI) opened at 15.81 on Thursday. Moneygram International, Inc. has a 12 month low of $5.83 and a 12 month high of $17.92. The stock has a market capitalization of $857.12 million, a PE ratio of 32.53 and a beta of 1.92. The company’s 50-day moving average is $16.17 and its 200-day moving average is $16.12.
Moneygram International (NASDAQ:MGI) last announced its quarterly earnings data on Monday, August 7th. The financial services provider reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.05. Moneygram International had a negative return on equity of 14.11% and a net margin of 2.03%. The business had revenue of $410 million during the quarter, compared to the consensus estimate of $417.61 million. During the same period in the previous year, the company posted $0.15 earnings per share. Equities research analysts forecast that Moneygram International, Inc. will post $1.06 EPS for the current year.
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Several equities research analysts have recently commented on MGI shares. ValuEngine raised shares of Moneygram International from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $18.00 target price (up from $15.00) on shares of Moneygram International in a research report on Monday, June 19th. Northland Securities reaffirmed a “hold” rating and issued a $17.39 target price on shares of Moneygram International in a research report on Friday, June 30th. Zacks Investment Research cut shares of Moneygram International from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Finally, BidaskClub raised shares of Moneygram International from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Moneygram International presently has a consensus rating of “Hold” and a consensus price target 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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