Barclays started coverage on shares of Moneygram International (NASDAQ:MGI) in a research note published on Wednesday, The Fly reports. The firm issued an underweight rating and a $2.00 price objective on the financial services provider’s stock.

MGI has been the topic of several other research reports. BidaskClub upgraded shares of Moneygram International from a strong sell rating to a sell rating in a research note on Thursday, August 30th. Zacks Investment Research downgraded shares of Moneygram International from a buy rating to a hold rating in a research note on Monday, October 8th. Morgan Stanley reduced their target price on Moneygram International from $7.00 to $6.50 and set an equal weight rating for the company in a research report on Monday, August 6th. Finally, Evercore ISI cut Moneygram International from an in-line rating to an underperform rating in a research report on Friday, November 9th. Five equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company has an average rating of Sell and a consensus price target of $5.08.

Shares of Moneygram International stock traded up $0.05 during midday trading on Wednesday, hitting $2.19. The company had a trading volume of 41,589 shares, compared to its average volume of 616,906. The company has a market cap of $120.67 million, a price-to-earnings ratio of 2.49 and a beta of 2.02. Moneygram International has a 1-year low of $2.04 and a 1-year high of $14.97.

Moneygram International (NASDAQ:MGI) last announced its quarterly earnings data on Thursday, November 8th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.08. The business had revenue of $347.20 million for the quarter, compared to the consensus estimate of $378.73 million. Moneygram International had a negative net margin of 4.24% and a negative return on equity of 10.35%. The company’s revenue was up 14.1% on a year-over-year basis. On average, analysts anticipate that Moneygram International will post 0.51 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the stock. NJ State Employees Deferred Compensation Plan lifted its position in Moneygram International by 11.1% in the second quarter. NJ State Employees Deferred Compensation Plan now owns 100,000 shares of the financial services provider’s stock worth $669,000 after purchasing an additional 10,000 shares during the period. Gabelli Funds LLC lifted its position in Moneygram International by 2.2% in the third quarter. Gabelli Funds LLC now owns 552,974 shares of the financial services provider’s stock worth $2,958,000 after purchasing an additional 11,828 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Moneygram International by 9.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 151,644 shares of the financial services provider’s stock worth $1,015,000 after purchasing an additional 13,041 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in Moneygram International by 5.3% in the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 291,925 shares of the financial services provider’s stock worth $1,562,000 after purchasing an additional 14,600 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Moneygram International by 5.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 279,875 shares of the financial services provider’s stock worth $1,872,000 after purchasing an additional 15,075 shares during the period. 86.94% of the stock is owned by hedge funds and other institutional investors.

Moneygram International Company Profile

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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