Moneygram International (MGI) Sees Strong Trading Volume

Moneygram International Inc (NASDAQ:MGI) saw an uptick in trading volume on Thursday . 21,588,985 shares were traded during mid-day trading, an increase of 334% from the previous session’s volume of 4,979,949 shares.The stock last traded at $12.16 and had previously closed at $12.16.

Several brokerages have recently commented on MGI. BidaskClub raised Moneygram International from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 11th. JPMorgan Chase & Co. lowered Moneygram International from a “neutral” rating to an “underweight” rating in a report on Tuesday, December 12th. Zacks Investment Research lowered Moneygram International from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Finally, ValuEngine lowered Moneygram International from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $16.21.

The company has a market cap of $686.03, a price-to-earnings ratio of 28.11 and a beta of 1.92. The company has a debt-to-equity ratio of -2.47, a quick ratio of 0.05 and a current ratio of 0.05.

Hedge funds have recently added to or reduced their stakes in the company. USA Financial Portformulas Corp grew its holdings in Moneygram International by 3.9% during the second quarter. USA Financial Portformulas Corp now owns 22,769 shares of the financial services provider’s stock valued at $393,000 after purchasing an additional 852 shares during the period. Wells Fargo & Company MN grew its holdings in Moneygram International by 4.8% during the second quarter. Wells Fargo & Company MN now owns 21,129 shares of the financial services provider’s stock valued at $365,000 after purchasing an additional 973 shares during the period. Voya Investment Management LLC grew its holdings in Moneygram International by 20.8% during the second quarter. Voya Investment Management LLC now owns 14,878 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 2,562 shares during the period. New York State Common Retirement Fund grew its holdings in Moneygram International by 10.8% during the second quarter. New York State Common Retirement Fund now owns 29,700 shares of the financial services provider’s stock valued at $512,000 after purchasing an additional 2,899 shares during the period. Finally, BNP Paribas Arbitrage SA grew its holdings in Moneygram International by 108.8% during the second quarter. BNP Paribas Arbitrage SA now owns 6,942 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 3,618 shares during the period. 91.12% of the stock is owned by 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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