Citigroup Inc. Has $4.67 Million Position in Moneygram International, Inc. (MGI)
Citigroup Inc. increased its position in shares of Moneygram International, Inc. (NASDAQ:MGI) by 168.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 270,593 shares of the financial services provider’s stock after buying an additional 169,706 shares during the period. Citigroup Inc. owned 0.50% of Moneygram International worth $4,668,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in Moneygram International by 122.9% during the first quarter. Renaissance Technologies LLC now owns 1,412,391 shares of the financial services provider’s stock worth $23,742,000 after buying an additional 778,700 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Moneygram International by 8.7% during the first quarter. Dimensional Fund Advisors LP now owns 872,270 shares of the financial services provider’s stock worth $14,663,000 after buying an additional 69,561 shares during the last quarter. SG Americas Securities LLC raised its stake in Moneygram International by 807.7% during the second quarter. SG Americas Securities LLC now owns 755,589 shares of the financial services provider’s stock worth $13,034,000 after buying an additional 672,344 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Moneygram International by 7,472.6% during the second quarter. JPMorgan Chase & Co. now owns 733,103 shares of the financial services provider’s stock worth $12,646,000 after buying an additional 723,422 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp raised its stake in Moneygram International by 14.3% during the second quarter. OMERS ADMINISTRATION Corp now owns 628,400 shares of the financial services provider’s stock worth $10,840,000 after buying an additional 78,700 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on MGI. Northland Securities restated a “hold” rating on shares of Moneygram International in a report on Tuesday, September 5th. BidaskClub cut shares of Moneygram International from a “sell” rating to a “strong sell” rating in a report on Wednesday. Morgan Stanley restated an “equal weight” rating and issued a $18.00 price target (up from $15.00) on shares of Moneygram International in a report on Monday, June 19th. Finally, ValuEngine upgraded shares of Moneygram International from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.93.
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Shares of Moneygram International, Inc. (NASDAQ MGI) opened at 16.13 on Friday. The firm has a market capitalization of $874.47 million, a PE ratio of 33.19 and a beta of 1.92. Moneygram International, Inc. has a 12-month low of $5.83 and a 12-month high of $17.92. The firm has a 50-day moving average of $15.86 and a 200-day moving average of $16.56.
Moneygram International (NASDAQ:MGI) last issued its quarterly earnings data on Monday, August 7th. The financial services provider reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.05. Moneygram International had a net margin of 2.03% and a negative return on equity of 14.11%. The business had revenue of $410.00 million during the quarter, compared to analyst estimates of $417.61 million. During the same period in the prior year, the business earned $0.15 EPS. Equities analysts anticipate that Moneygram International, Inc. will post $1.07 earnings per share for the current year.
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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