Moneygram International (MGI) Sets New 12-Month Low at $8.75
Shares of Moneygram International Inc (NASDAQ:MGI) hit a new 52-week low on Friday . The stock traded as low as $8.75 and last traded at $8.75, with a volume of 238765 shares trading hands. The stock had previously closed at $8.86.
MGI has been the topic of several research analyst reports. Zacks Investment Research cut Moneygram International from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. ValuEngine raised Moneygram International from a “hold” rating to a “buy” rating in a research note on Saturday, December 9th. JPMorgan Chase & Co. cut Moneygram International from a “neutral” rating to an “underweight” rating in a research note on Tuesday, December 12th. Finally, TheStreet cut Moneygram International from a “c” rating to a “d+” rating in a research note on Friday, March 16th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.70.
The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of -2.12. The company has a market cap of $495.26, a P/E ratio of -18.08 and a beta of 1.81.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGI. State Street Corp grew its stake in shares of Moneygram International by 11.8% in the second quarter. State Street Corp now owns 563,886 shares of the financial services provider’s stock worth $9,729,000 after acquiring an additional 59,606 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Moneygram International in the third quarter worth $145,000. Quantbot Technologies LP purchased a new stake in shares of Moneygram International in the third quarter worth $403,000. Wells Fargo & Company MN grew its stake in shares of Moneygram International by 53.1% in the third quarter. Wells Fargo & Company MN now owns 32,350 shares of the financial services provider’s stock worth $521,000 after acquiring an additional 11,221 shares during the last quarter. Finally, KBC Group NV purchased a new stake in shares of Moneygram International in the third quarter worth $922,000. 88.35% of the stock is currently owned by hedge funds and other institutional investors.
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Moneygram International Company Profile
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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