Geode Capital Management LLC boosted its stake in shares of Moneygram International, Inc. (NASDAQ:MGI) by 30.9% during the first quarter, Holdings Channel reports. The firm owned 329,597 shares of the financial services provider’s stock after buying an additional 77,775 shares during the period. Geode Capital Management LLC’s holdings in Moneygram International were worth $5,540,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of MGI. Teton Advisors Inc. purchased a new position in shares of Moneygram International during the first quarter valued at about $168,000. Engineers Gate Manager LP purchased a new position in shares of Moneygram International during the first quarter valued at about $192,000. Havens Advisors LLC purchased a new position in shares of Moneygram International during the first quarter valued at about $197,000. Russell Investments Group Ltd. purchased a new position in shares of Moneygram International during the fourth quarter valued at about $144,000. Finally, UBS Asset Management Americas Inc. purchased a new position in shares of Moneygram International during the first quarter valued at about $202,000. Institutional investors own 89.74% of the company’s stock.
Shares of Moneygram International, Inc. (MGI) traded down 0.51% on Friday, hitting $15.61. The stock had a trading volume of 17,037 shares. The company has a market capitalization of $846.28 million, a P/E ratio of 32.12 and a beta of 1.92. Moneygram International, Inc. has a one year low of $5.83 and a one year high of $17.92. The firm has a 50 day moving average price of $16.65 and a 200 day moving average price of $15.87.
Moneygram International (NASDAQ:MGI) last posted its quarterly earnings results on Monday, August 7th. The financial services provider reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.05. The company had revenue of $410 million for the quarter, compared to the consensus estimate of $417.61 million. Moneygram International had a negative return on equity of 14.11% and a net margin of 2.03%. During the same quarter in the prior year, the business posted $0.15 EPS. On average, equities research analysts predict that Moneygram International, Inc. will post $1.06 earnings per share for the current fiscal year.
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MGI has been the topic of a number of recent research reports. Northland Securities restated a “hold” rating and issued a $17.39 target price on shares of Moneygram International in a report on Friday, June 30th. Morgan Stanley restated an “equal weight” rating and issued a $18.00 target price (up from $15.00) on shares of Moneygram International in a report on Monday, June 19th. ValuEngine upgraded Moneygram International from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub cut Moneygram International from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research cut Moneygram International from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Moneygram International presently has a consensus rating of “Hold” and an average target price of $14.93.
About Moneygram International
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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