Moneygram International Inc (NASDAQ:MGI) fell 6.7% during mid-day trading on Wednesday . The company traded as low as $2.19 and last traded at $2.23. 672,025 shares were traded during mid-day trading, an increase of 35% from the average session volume of 498,771 shares. The stock had previously closed at $2.39.

A number of equities research analysts have weighed in on the company. BidaskClub downgraded Moneygram International from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 26th. Zacks Investment Research downgraded Moneygram International from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. Barclays assumed coverage on Moneygram International in a research report on Wednesday, November 14th. They set an “underweight” rating and a $2.00 price target on the stock. Evercore ISI downgraded Moneygram International from an “in-line” rating to an “underperform” rating in a research report on Friday, November 9th. Finally, ValuEngine upgraded Moneygram International from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $5.08.

The company has a market cap of $124.02 million, a PE ratio of 2.52 and a beta of 1.70.

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, beating the Zacks’ consensus estimate of $0.16 by $0.08. Moneygram International had a negative return on equity of 10.35% and a negative net margin of 4.24%. The firm had revenue of $347.20 million for the quarter, compared to analysts’ expectations of $378.73 million. Moneygram International’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts expect that Moneygram International Inc will post 0.48 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in MGI. Gabelli Funds LLC grew its stake in shares of 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 last quarter. Teachers Advisors LLC grew its stake in shares of Moneygram International by 11.3% in the third quarter. Teachers Advisors LLC now owns 126,236 shares of the financial services provider’s stock worth $675,000 after purchasing an additional 12,839 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of 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 last quarter. GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in shares of 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 last quarter. Finally, Gamco Investors INC. ET AL boosted its position in Moneygram International by 10.9% during the 3rd quarter. Gamco Investors INC. ET AL now owns 162,901 shares of the financial services provider’s stock valued at $872,000 after acquiring an additional 16,015 shares in the last quarter. 84.07% of the stock is currently owned by hedge funds and other institutional investors.

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Moneygram International Company Profile (NASDAQ:MGI)

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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