SG Americas Securities LLC Has $13.03 Million Stake in Moneygram International, Inc. (MGI)
SG Americas Securities LLC raised its stake in Moneygram International, Inc. (NASDAQ:MGI) by 807.7% during the second quarter, Holdings Channel reports. The firm owned 755,589 shares of the financial services provider’s stock after buying an additional 672,344 shares during the period. SG Americas Securities LLC’s holdings in Moneygram International were worth $13,034,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MGI. Bank of America Corp DE increased its position in shares of Moneygram International by 34.1% in the first quarter. Bank of America Corp DE now owns 7,918 shares of the financial services provider’s stock valued at $133,000 after buying an additional 2,015 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Moneygram International during the fourth quarter valued at approximately $144,000. Teton Advisors Inc. purchased a new position in shares of Moneygram International during the first quarter valued at approximately $168,000. Engineers Gate Manager LP purchased a new position in shares of Moneygram International during the first quarter valued at approximately $192,000. Finally, Havens Advisors LLC purchased a new position in shares of Moneygram International during the first quarter valued at approximately $197,000. 89.64% of the stock is owned by institutional investors.
Shares of Moneygram International, Inc. (NASDAQ MGI) opened at 15.64 on Wednesday. The stock’s 50 day moving average is $16.52 and its 200-day moving average is $16.00. The company has a market capitalization of $847.91 million, a P/E ratio of 32.18 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.
Moneygram International (NASDAQ:MGI) last issued its earnings results on Monday, August 7th. The financial services provider reported $0.27 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $410 million during the quarter, compared to analyst estimates of $417.61 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. Analysts anticipate that Moneygram International, Inc. will post $1.07 earnings per share for the current year.
MGI has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Moneygram International from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. BidaskClub downgraded shares of Moneygram International from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. ValuEngine raised shares of Moneygram International from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Morgan Stanley reissued 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, Northland Securities reissued a “hold” rating and issued a $17.39 price target on shares of Moneygram International in a report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Moneygram International currently has an average rating of “Hold” and a consensus target price of $14.93.
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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