BidaskClub Lowers Moneygram International, Inc. (MGI) to Strong Sell
BidaskClub downgraded shares of Moneygram International, Inc. (NASDAQ:MGI) from a sell rating to a strong sell rating in a research note released on Saturday.
A number of other brokerages have also issued reports on MGI. Northland Securities restated a hold rating on shares of Moneygram International in a research note on Tuesday, September 5th. ValuEngine lowered shares of Moneygram International from a buy rating to a hold rating in a research note on Monday, October 2nd. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Moneygram International presently has an average rating of Hold and an average target price of $16.21.
Moneygram International (MGI) opened at $14.44 on Friday. The company has a debt-to-equity ratio of -2.47, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market cap of $788.52, a price-to-earnings ratio of 17.73 and a beta of 2.00.
Moneygram International (NASDAQ:MGI) last posted its quarterly earnings data on Monday, August 7th. The financial services provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The company had revenue of $410.00 million during the quarter, compared to analysts’ expectations of $417.61 million. Moneygram International had a net margin of 1.86% and a negative return on equity of 14.19%. During the same period in the prior year, the company posted $0.15 EPS. analysts anticipate that Moneygram International will post 0.66 EPS for the current year.
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Several large investors have recently made changes to their positions in MGI. UBS Asset Management Americas Inc. acquired a new stake in shares of Moneygram International in the first quarter valued at approximately $202,000. Parametric Portfolio Associates LLC increased its stake in shares of Moneygram International by 3.8% in the first quarter. Parametric Portfolio Associates LLC now owns 134,909 shares of the financial services provider’s stock valued at $2,268,000 after purchasing an additional 4,929 shares during the period. American International Group Inc. increased its stake in shares of Moneygram International by 7.1% in the first quarter. American International Group Inc. now owns 18,227 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 1,208 shares during the period. Teachers Advisors LLC increased its stake in shares of Moneygram International by 7.4% in the first quarter. Teachers Advisors LLC now owns 58,782 shares of the financial services provider’s stock valued at $988,000 after purchasing an additional 4,043 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Moneygram International by 30.9% in the first quarter. Geode Capital Management LLC now owns 329,597 shares of the financial services provider’s stock valued at $5,540,000 after acquiring an additional 77,775 shares in the last quarter. Institutional investors own 93.79% of the company’s stock.
About Moneygram International
MoneyGram International, Inc (MoneyGram) is a global provider of money transfer services. The Company operates through two segments: Global Funds Transfer and Financial Paper Products. The Company offers its services under the MoneyGram brand. The Company’s Global Funds Transfer Segment provides money transfer services and bill payment services primarily to unbanked and underbanked consumers.
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