Moneygram International’s (MGI) “Hold” Rating Reiterated at Northland Securities
A number of other research firms also recently weighed in on MGI. BidaskClub raised shares of Moneygram International from a strong sell rating to a sell rating in a research report on Tuesday, August 22nd. Morgan Stanley reissued 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. ValuEngine raised shares of Moneygram International from a hold rating to a buy rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research downgraded shares of Moneygram International from a buy rating to a hold rating in a research report 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 company currently has an average rating of Hold and an average target price of $14.93.
Shares of Moneygram International (MGI) opened at 16.40 on Tuesday. The stock’s 50 day moving average is $15.87 and its 200 day moving average is $16.33. The firm has a market cap of $889.11 million, a PE ratio of 33.74 and a beta of 1.92. Moneygram International has a 12 month low of $5.83 and a 12 month high of $17.92.
Moneygram International (NASDAQ:MGI) last issued its quarterly earnings data on Monday, August 7th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The business had revenue of $410 million during the quarter, compared to analyst estimates of $417.61 million. Moneygram International had a net margin of 2.03% and a negative return on equity of 14.11%. During the same quarter last year, the business earned $0.15 EPS. Analysts forecast that Moneygram International will post $1.02 EPS for the current fiscal year.
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Hedge funds have recently made changes to their positions in the company. Gabelli Funds LLC acquired a new stake in shares of Moneygram International during the 1st quarter worth approximately $1,124,000. UBS Group AG lifted its holdings in shares of Moneygram International by 227.1% in the 1st quarter. UBS Group AG now owns 37,380 shares of the financial services provider’s stock worth $629,000 after purchasing an additional 25,953 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Moneygram International by 359.9% in the 1st quarter. Morgan Stanley now owns 405,435 shares of the financial services provider’s stock worth $6,815,000 after purchasing an additional 317,280 shares in the last quarter. American International Group Inc. lifted its holdings in shares of Moneygram International by 7.1% in the 1st quarter. American International Group Inc. now owns 18,227 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 1,208 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Moneygram International in the 1st quarter worth $9,240,000. 93.93% of the stock is owned by institutional investors.
About Moneygram International
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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