Moneygram International (NASDAQ:MGI) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Wednesday.

Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Moneygram International from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Morgan Stanley decreased their price objective on Moneygram International from $7.00 to $6.50 and set an “equal weight” rating for the company in a report on Monday, August 6th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. Moneygram International presently has an average rating of “Hold” and an average target price of $6.63.

NASDAQ:MGI opened at $5.67 on Wednesday. Moneygram International has a twelve month low of $5.56 and a twelve month high of $16.27. The firm has a market cap of $327.52 million, a PE ratio of 6.44 and a beta of 1.93. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of -2.15.

Moneygram International (NASDAQ:MGI) last released its earnings results on Friday, August 3rd. The financial services provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.06. Moneygram International had a negative return on equity of 8.32% and a negative net margin of 2.27%. The business had revenue of $374.60 million during the quarter, compared to the consensus estimate of $387.37 million. During the same period last year, the company earned $0.27 earnings per share. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. sell-side analysts anticipate that Moneygram International will post 0.51 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in MGI. NJ State Employees Deferred Compensation Plan grew its stake in Moneygram International by 11.1% in the second quarter. NJ State Employees Deferred Compensation Plan now owns 100,000 shares of the financial services provider’s stock valued at $669,000 after purchasing an additional 10,000 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in Moneygram International by 17.5% in the first quarter. Gamco Investors INC. ET AL now owns 79,725 shares of the financial services provider’s stock valued at $687,000 after purchasing an additional 11,900 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Moneygram International by 9.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 151,644 shares of the financial services provider’s stock valued at $1,015,000 after purchasing an additional 13,041 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Moneygram International by 5.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 279,875 shares of the financial services provider’s stock valued at $1,872,000 after purchasing an additional 15,075 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Moneygram International by 176.9% in the first quarter. Victory Capital Management Inc. now owns 27,328 shares of the financial services provider’s stock valued at $236,000 after purchasing an additional 17,460 shares during the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

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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