Moneygram International (NASDAQ:MGI) Lifted to “Sell” at ValuEngine

ValuEngine upgraded shares of Moneygram International (NASDAQ:MGI) from a strong sell rating to a sell rating in a report issued on Thursday morning, ValuEngine reports.

Separately, Northland Securities reaffirmed a buy rating on shares of Moneygram International in a research note on Monday, July 1st. Four analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Moneygram International has a consensus rating of Hold and an average target price of $5.19.

NASDAQ MGI traded up $0.17 during trading hours on Thursday, reaching $2.78. 2,109,592 shares of the stock traded hands, compared to its average volume of 1,379,030. The firm has a 50 day moving average price of $2.34. Moneygram International has a 1 year low of $1.33 and a 1 year high of $6.84. The firm has a market cap of $147.18 million, a P/E ratio of 8.42 and a beta of 2.98.

Moneygram International (NASDAQ:MGI) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.08. Moneygram International had a negative return on equity of 4.67% and a negative net margin of 3.22%. The business had revenue of $323.80 million for the quarter, compared to the consensus estimate of $342.31 million. As a group, analysts anticipate that Moneygram International will post 0.07 earnings per share for the current year.

Large investors have recently made changes to their positions in the company. Jane Street Group LLC grew its stake in shares of Moneygram International by 129.8% in the fourth quarter. Jane Street Group LLC now owns 47,861 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 27,030 shares during the last quarter. Wedbush Securities Inc. bought a new stake in shares of Moneygram International in the first quarter worth about $173,000. California Public Employees Retirement System grew its stake in shares of Moneygram International by 20.1% in the fourth quarter. California Public Employees Retirement System now owns 106,629 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 17,851 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Moneygram International in the second quarter worth about $222,000. Finally, Two Sigma Investments LP grew its stake in shares of Moneygram International by 136.5% in the fourth quarter. Two Sigma Investments LP now owns 213,917 shares of the financial services provider’s stock worth $428,000 after purchasing an additional 123,462 shares during the last quarter. 78.71% of the stock is currently owned by hedge funds and other institutional investors.

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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