MoneyGram International (NASDAQ:MGI – Get Rating) was downgraded by equities research analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a research note issued on Tuesday, The Fly reports.
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Other equities research analysts have also recently issued reports about the company. William Blair reissued a “market perform” rating on shares of MoneyGram International in a research report on Monday, March 7th. Zacks Investment Research cut MoneyGram International from a “strong-buy” rating to a “hold” rating and set a $7.75 target price for the company. in a research report on Wednesday, December 29th. Finally, TheStreet raised MoneyGram International from a “d+” rating to a “c” rating in a research report on Friday, January 21st. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.92.
MGI opened at $10.60 on Tuesday. MoneyGram International has a 1-year low of $5.06 and a 1-year high of $12.36. The stock has a market capitalization of $961.70 million, a price-to-earnings ratio of -24.09 and a beta of 1.33. The business has a 50 day moving average of $9.75 and a 200-day moving average of $8.15.
MoneyGram International (NASDAQ:MGI – Get Rating) last posted its quarterly earnings data on Friday, February 25th. The financial services provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.07. MoneyGram International had a negative return on equity of 12.14% and a negative net margin of 2.95%. The company had revenue of $324.60 million during the quarter, compared to analysts’ expectations of $325.00 million. During the same period in the prior year, the business earned $0.10 earnings per share.
In other news, CAO Robert L. Villasenor sold 21,597 shares of the firm’s stock in a transaction on Monday, March 7th. The stock was sold at an average price of $10.66, for a total value of $230,224.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adrianna E. Greenwald sold 8,825 shares of the firm’s stock in a transaction on Monday, March 7th. The shares were sold at an average price of $10.67, for a total value of $94,162.75. The disclosure for this sale can be found here. Insiders have sold 30,707 shares of company stock valued at $327,237 over the last quarter. Corporate insiders own 3.70% of the company’s stock.
Several large investors have recently made changes to their positions in MGI. Park West Asset Management LLC increased its stake in shares of MoneyGram International by 511.1% in the third quarter. Park West Asset Management LLC now owns 2,750,000 shares of the financial services provider’s stock valued at $22,055,000 after buying an additional 2,300,000 shares in the last quarter. Eagle Asset Management Inc. bought a new position in MoneyGram International in the fourth quarter valued at about $17,065,000. Goldman Sachs Group Inc. boosted its holdings in MoneyGram International by 246.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,505,799 shares of the financial services provider’s stock valued at $19,771,000 after acquiring an additional 1,782,817 shares during the last quarter. Archon Capital Management LLC boosted its holdings in MoneyGram International by 81.7% in the fourth quarter. Archon Capital Management LLC now owns 3,218,677 shares of the financial services provider’s stock valued at $25,395,000 after acquiring an additional 1,447,465 shares during the last quarter. Finally, Beach Point Capital Management LP boosted its holdings in MoneyGram International by 162.3% in the third quarter. Beach Point Capital Management LP now owns 2,133,129 shares of the financial services provider’s stock valued at $17,108,000 after acquiring an additional 1,319,913 shares during the last quarter. Institutional investors own 75.38% of the company’s stock.
MoneyGram International Company Profile
MoneyGram International, Inc is a global payment services company, which offers global money transfers, bill payment solutions and money orders. It operates through the following business segments: Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment provides money transfer services.