MoneyGram International (NASDAQ:MGI – Get an assessment) was downgraded by equity research analysts Northland Securities from an “outperforming” rating to a “market performing” rating in a research note released Tuesday, The Fly reports.
Other equity research analysts have also recently released reports on the company. William Blair reissued a “market performance” rating on MoneyGram International shares in a research report on Monday, March 7. Zacks Investment Research downgraded MoneyGram International from a “strong buy” rating to a “hold” rating and set a target price of $7.75 for the company. in a research report on Wednesday, December 29. Finally, TheStreet upgraded MoneyGram International from a “d+” rating to a “c” rating in a Friday, January 21 research report. One equity research analyst rated the stock with a sell rating and four gave the company a hold rating. Based on data from MarketBeat.com, the company currently 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 minimum of $5.06 and a 1-year maximum of $12.36. The stock has a market capitalization of $961.70 million, a price-earnings ratio of -24.09 and a beta of 1.33. The company 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 released its quarterly earnings data on Friday, February 25. The financial services provider reported earnings per share of $0.19 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 posted revenue of $324.60 million in the quarter, compared to $325.00 million expected by analysts. In the same period of the previous year, the company had earned earnings per share of $0.10.
Separately, CAO Robert L. Villasenor sold 21,597 shares of the company in a trade on Monday, March 7. 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, accessible via the SEC’s website. Additionally, insider Adrianna E. Greenwald sold 8,825 shares of the company in a trade on Monday, March 7. The shares were sold at an average price of $10.67, for a total value of $94,162.75. The disclosure of this sale can be found here. Insiders sold 30,707 shares of the company valued at $327,237 during the last quarter. Company insiders own 3.70% of the company’s shares.
Several large investors have recently changed 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 valued at $22,055,000 after purchasing an additional 2,300,000 shares last quarter. Eagle Asset Management Inc. bought a new position in MoneyGram International in the fourth quarter worth approximately $17,065,000. Goldman Sachs Group Inc. increased 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 valued at $19,771,000 after acquiring 1,782,817 additional shares in the last quarter. Archon Capital Management LLC increased its stake 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 valued at $25,395,000 after acquiring an additional 1,447,465 shares in the last quarter. Finally, Beach Point Capital Management LP increased its stake 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 valued at $17,108,000 after acquiring an additional 1,319,913 shares in the last quarter. Institutional investors hold 75.38% of the company’s shares.
MoneyGram International Company Profile (Get an evaluation)
MoneyGram International, Inc is a global payment services company, providing global money transfers, bill payment solutions and money orders. It operates through the following business segments: Global Money Transfer and Financial Paper Products. The Global Funds Transfer segment provides money transfer services.
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