Moneygram International (NASDAQ:MGI) Shares Gap Up to $2.57

Moneygram International Inc (NASDAQ:MGI)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $2.80, but opened at $2.57. Moneygram International shares last traded at $2.73, with a volume of 187,385 shares changing hands.

MGI has been the topic of several analyst reports. ValuEngine raised Moneygram International from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th. Northland Securities reaffirmed a “buy” rating and set a $5.50 target price on shares of Moneygram International in a research report on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $5.19.

The company has a market capitalization of $139.28 million, a P/E ratio of 5.74 and a beta of 2.43. The firm’s 50-day moving average is $1.88.

Moneygram International (NASDAQ:MGI) last announced its earnings results on Wednesday, May 8th. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.08). The company had revenue of $315.40 million for the quarter, compared to analysts’ expectations of $332.98 million. Moneygram International had a negative net margin of 3.22% and a negative return on equity of 4.67%. The firm’s quarterly revenue was down 17.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 EPS. Analysts forecast that Moneygram International Inc will post 0.07 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Beach Point Capital Management LP boosted its position in Moneygram International by 60.5% in the first quarter. Beach Point Capital Management LP now owns 2,945,371 shares of the financial services provider’s stock worth $6,009,000 after purchasing an additional 1,110,800 shares during the last quarter. BlackRock Inc. boosted its position in Moneygram International by 1.7% in the fourth quarter. BlackRock Inc. now owns 2,209,353 shares of the financial services provider’s stock worth $4,418,000 after purchasing an additional 36,059 shares during the last quarter. Acadian Asset Management LLC boosted its position in Moneygram International by 29.7% in the first quarter. Acadian Asset Management LLC now owns 977,248 shares of the financial services provider’s stock worth $1,993,000 after purchasing an additional 223,653 shares during the last quarter. Gabelli Funds LLC boosted its position in Moneygram International by 4.5% in the first quarter. Gabelli Funds LLC now owns 562,695 shares of the financial services provider’s stock worth $1,148,000 after purchasing an additional 24,297 shares during the last quarter. Finally, Teton Advisors Inc. boosted its position in Moneygram International by 6.7% in the first quarter. Teton Advisors Inc. now owns 560,000 shares of the financial services provider’s stock worth $1,142,000 after purchasing an additional 35,000 shares during the last quarter. 78.47% of the stock is currently owned by institutional investors.

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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