Moneygram International Inc (NASDAQ:MGI) has received a consensus rating of “Hold” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $2.24.
MGI has been the subject of several research reports. ValuEngine lowered Moneygram International from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Northcoast Research restated a “neutral” rating on shares of Moneygram International in a report on Wednesday, February 26th. Zacks Investment Research upgraded Moneygram International from a “hold” rating to a “buy” rating and set a $2.23 target price on the stock in a report on Thursday, March 5th. William Blair restated a “market perform” rating on shares of Moneygram International in a report on Tuesday, February 25th. Finally, Northland Securities cut Moneygram International from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $3.50 to $1.00 in a report on Tuesday.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. acquired a new position in Moneygram International in the fourth quarter valued at approximately $25,000. Emerald Advisers LLC acquired a new position in Moneygram International during the fourth quarter worth $26,000. MAI Capital Management purchased a new position in shares of Moneygram International during the fourth quarter worth $26,000. Tower Research Capital LLC TRC boosted its position in shares of Moneygram International by 188.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,343 shares of the financial services provider’s stock worth $32,000 after buying an additional 10,023 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Moneygram International during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 32.05% of the company’s stock.
MGI stock opened at $1.39 on Monday. Moneygram International has a one year low of $1.15 and a one year high of $6.70. The firm’s fifty day moving average is $2.09 and its 200 day moving average is $2.97. The firm has a market cap of $90.34 million, a PE ratio of -1.58 and a beta of 2.34.
Moneygram International (NASDAQ:MGI) last announced its quarterly earnings results on Monday, February 24th. The financial services provider reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.04. Moneygram International had a negative return on equity of 3.29% and a negative net margin of 4.68%. The firm had revenue of $323.70 million during the quarter, compared to analyst estimates of $328.22 million. Research analysts predict that Moneygram International will post -0.1 EPS for the current year.
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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