MGI has been the subject of several other research reports. Northland Securities reissued a buy rating and issued a $7.00 price target on shares of Moneygram International in a report on Thursday, September 5th. Zacks Investment Research downgraded Moneygram International from a strong-buy rating to a hold rating and set a $3.50 target price for the company. in a report on Thursday, August 8th. Barclays lifted their target price on Moneygram International from $2.00 to $3.50 and gave the stock an underweight rating in a report on Monday, September 9th. Finally, ValuEngine downgraded Moneygram International from a buy rating to a hold rating in a report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $4.67.
MGI opened at $4.37 on Friday. The business’s 50-day moving average is $4.26 and its two-hundred day moving average is $2.76. Moneygram International has a 1 year low of $1.33 and a 1 year high of $6.70. The firm has a market capitalization of $263.40 million, a PE ratio of 18.46 and a beta of 2.74.
Moneygram International (NASDAQ:MGI) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.08. The business had revenue of $323.80 million during the quarter, compared to the consensus estimate of $342.31 million. Moneygram International had a negative return on equity of 3.29% and a negative net margin of 5.56%. As a group, research analysts predict that Moneygram International will post 0.09 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. Marshall Wace North America L.P. purchased a new stake in shares of Moneygram International during the second quarter worth approximately $51,000. Teton Advisors Inc. increased its position in shares of Moneygram International by 3.8% during the second quarter. Teton Advisors Inc. now owns 581,500 shares of the financial services provider’s stock worth $1,436,000 after purchasing an additional 21,500 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Moneygram International during the second quarter worth approximately $54,000. Thoroughbred Financial Services LLC purchased a new stake in shares of Moneygram International during the second quarter worth approximately $3,334,000. Finally, Centaurus Financial Inc. purchased a new stake in shares of Moneygram International during the second quarter worth approximately $123,000. Institutional investors and hedge funds own 62.26% of the company’s stock.
About Moneygram International
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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