BidaskClub Downgrades Moneygram International (NASDAQ:MGI) to Buy

BidaskClub downgraded shares of Moneygram International (NASDAQ:MGI) from a strong-buy rating to a buy rating in a report published on Friday, September 20th, BidAskClub reports.

MGI has been the topic of a number of other research reports. Barclays upped their price target on Moneygram International from $2.00 to $3.50 and gave the company an underweight rating in a research report on Monday, September 9th. Zacks Investment Research lowered Moneygram International from a strong-buy rating to a hold rating and set a $3.50 price target on the stock. in a research report on Thursday, August 8th. ValuEngine lowered Moneygram International from a buy rating to a hold rating in a research report on Wednesday, September 4th. Finally, Northland Securities restated a buy rating and set a $7.00 target price on shares of Moneygram International in a research report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $4.67.

Shares of Moneygram International stock traded down $0.03 during trading on Friday, reaching $4.04. 1,348,893 shares of the company’s stock were exchanged, compared to its average volume of 2,264,609. The company has a market cap of $265.57 million, a P/E ratio of 18.61 and a beta of 2.71. Moneygram International has a 1-year low of $1.33 and a 1-year high of $6.70. The firm’s 50-day moving average price is $4.46 and its 200 day moving average price is $2.88.

Moneygram International (NASDAQ:MGI) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. The business had revenue of $323.80 million for the quarter, compared to analyst estimates 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, sell-side analysts anticipate that Moneygram International will post 0.09 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Marshall Wace North America L.P. acquired a new position in Moneygram International during the 2nd quarter worth approximately $51,000. Skandinaviska Enskilda Banken AB publ acquired a new position in Moneygram International during the 2nd quarter worth approximately $54,000. Centaurus Financial Inc. acquired a new position in Moneygram International during the 2nd quarter worth approximately $123,000. Paloma Partners Management Co acquired a new position in Moneygram International during the 2nd quarter worth approximately $188,000. Finally, Hennessy Advisors Inc. acquired a new position in Moneygram International during the 2nd quarter worth approximately $222,000. Institutional investors own 62.26% of the company’s stock.

Moneygram International Company 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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