Moneygram International (MGI) Shares Down 6.7%

Moneygram International Inc (NASDAQ:MGI)’s share price traded down 6.7% on Wednesday . The company traded as low as $2.19 and last traded at $2.23. 672,025 shares traded hands 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 analysts recently weighed in on the stock. ValuEngine upgraded shares of Moneygram International from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Barclays assumed coverage on shares of Moneygram International in a research note on Wednesday, November 14th. They set an “underweight” rating and a $2.00 target price for the company. Evercore ISI lowered shares of Moneygram International from an “in-line” rating to an “underperform” rating in a research note on Friday, November 9th. Zacks Investment Research lowered shares of Moneygram International from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. Finally, BidaskClub lowered shares of Moneygram International from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 26th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $5.08.

The company has a market cap of $124.02 million, a price-to-earnings ratio of 2.52 and a beta of 1.70.

Moneygram International (NASDAQ:MGI) last announced its earnings results on Thursday, November 8th. The financial services provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.08. The business had revenue of $347.20 million during the quarter, compared to analyst estimates of $378.73 million. Moneygram International had a negative net margin of 4.24% and a negative return on equity of 10.35%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. On average, analysts predict that Moneygram International Inc will post 0.48 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Gabelli Funds LLC grew its position in shares of Moneygram International by 2.2% during the 3rd quarter. Gabelli Funds LLC now owns 552,974 shares of the financial services provider’s stock valued at $2,958,000 after acquiring an additional 11,828 shares during the period. Teachers Advisors LLC grew its position in shares of Moneygram International by 11.3% during the 3rd quarter. Teachers Advisors LLC now owns 126,236 shares of the financial services provider’s stock valued at $675,000 after acquiring an additional 12,839 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Moneygram International by 9.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 151,644 shares of the financial services provider’s stock valued at $1,015,000 after acquiring an additional 13,041 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. grew its position in shares of Moneygram International by 5.3% during the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 291,925 shares of the financial services provider’s stock valued at $1,562,000 after acquiring an additional 14,600 shares during the period. Finally, Gamco Investors INC. ET AL grew its position in shares of 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 during the period. 84.07% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This story was first posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://www.chaffeybreeze.com/2019/01/11/moneygram-international-mgi-shares-down-6-7.html.

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.

Recommended Story: How much money do you need to begin day trading?

Receive News & Ratings for Moneygram International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moneygram International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply