ETF Managers Group LLC boosted its stake in Moneygram International Inc (NASDAQ:MGI) by 5.6% in the first quarter, Holdings Channel reports. The fund owned 363,425 shares of the financial services provider’s stock after buying an additional 19,334 shares during the quarter. ETF Managers Group LLC’s holdings in Moneygram International were worth $741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in MGI. Spark Investment Management LLC lifted its position in Moneygram International by 5.2% in the 1st quarter. Spark Investment Management LLC now owns 320,708 shares of the financial services provider’s stock valued at $654,000 after purchasing an additional 15,808 shares during the last quarter. Teton Advisors Inc. lifted its position in Moneygram International by 6.7% in the 1st quarter. Teton Advisors Inc. now owns 560,000 shares of the financial services provider’s stock valued at $1,142,000 after purchasing an additional 35,000 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in Moneygram International by 78.1% in the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 284,666 shares of the financial services provider’s stock valued at $581,000 after purchasing an additional 124,809 shares during the last quarter. Gabelli Funds LLC lifted its position in Moneygram International by 4.5% in the 1st quarter. Gabelli Funds LLC now owns 562,695 shares of the financial services provider’s stock valued at $1,148,000 after purchasing an additional 24,297 shares during the last quarter. Finally, Beach Point Capital Management LP lifted its position in Moneygram International by 60.5% in the 1st quarter. Beach Point Capital Management LP now owns 2,945,371 shares of the financial services provider’s stock valued at $6,009,000 after purchasing an additional 1,110,800 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on MGI shares. ValuEngine downgraded shares of Moneygram International from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Northland Securities upgraded shares of Moneygram International from a “market perform” rating to an “outperform” rating and set a $5.50 price objective on the stock in a research report on Wednesday, April 3rd. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $5.19.
Moneygram International (NASDAQ:MGI) last released its earnings results on Wednesday, May 8th. The financial services provider reported ($0.06) 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 analyst estimates 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 business posted $0.15 EPS. On average, equities analysts predict that Moneygram International Inc will post 0.19 earnings per share for the current year.
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Moneygram International Profile
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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