Fmr LLC bought a new stake in Moneygram International Inc (NASDAQ:MGI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 533,000 shares of the financial services provider’s stock, valued at approximately $2,852,000. Fmr LLC owned 0.96% of Moneygram International as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. bought a new position in Moneygram International in the third quarter valued at about $199,000. JPMorgan Chase & Co. increased its position in Moneygram International by 743.0% in the third quarter. JPMorgan Chase & Co. now owns 52,859 shares of the financial services provider’s stock worth $283,000 after buying an additional 46,589 shares in the last quarter. Fondren Management LP purchased a new stake in Moneygram International in the second quarter worth about $937,000. Schwab Charles Investment Management Inc. increased its position 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 worth $1,015,000 after buying an additional 13,041 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its position in Moneygram International by 10.9% in the third quarter. Gamco Investors INC. ET AL now owns 162,901 shares of the financial services provider’s stock worth $872,000 after buying an additional 16,015 shares in the last quarter. 84.07% of the stock is currently owned by institutional investors.
NASDAQ:MGI opened at $2.39 on Wednesday. Moneygram International Inc has a 12-month low of $1.59 and a 12-month high of $14.00. The stock has a market cap of $120.13 million, a P/E ratio of 2.72 and a beta of 1.70.
Moneygram International (NASDAQ:MGI) last released its earnings results on Thursday, November 8th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.08. Moneygram International had a negative return on equity of 10.35% and a negative net margin of 4.24%. The firm had revenue of $347.20 million during the quarter, compared to analysts’ expectations of $378.73 million. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, analysts forecast that Moneygram International Inc will post 0.48 EPS for the current fiscal year.
A number of analysts have commented on the company. ValuEngine upgraded Moneygram International from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Barclays assumed coverage on Moneygram International in a research report on Wednesday, November 14th. They issued an “underweight” rating and a $2.00 price target for the company. Evercore ISI cut Moneygram International from an “in-line” rating to an “underperform” rating in a research report on Friday, November 9th. Zacks Investment Research cut Moneygram International from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. Finally, BidaskClub cut Moneygram International from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 26th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $5.08.
Moneygram International Company Profile
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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