Moneygram International (NASDAQ:MGI) Stock Rating Upgraded by ValuEngine

Moneygram International (NASDAQ:MGI) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Tuesday, ValuEngine reports.

Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Moneygram International from a “buy” rating to a “hold” rating and set a $3.75 target price on the stock. in a report on Monday, November 4th. Barclays upped their price target on shares of Moneygram International from $2.00 to $3.50 and gave the stock an “underweight” rating in a report on Monday, September 9th. BidaskClub lowered shares of Moneygram International from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Northland Securities reiterated a “buy” rating and set a $6.00 price target on shares of Moneygram International in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Moneygram International presently has a consensus rating of “Hold” and a consensus price target of $4.42.

Shares of MGI traded down $0.24 during trading hours on Tuesday, hitting $2.64. 4,267,490 shares of the company were exchanged, compared to its average volume of 1,614,055. Moneygram International has a fifty-two week low of $1.33 and a fifty-two week high of $6.70. The company has a market cap of $163.84 million, a price-to-earnings ratio of 6.14 and a beta of 2.69. The firm’s fifty day moving average is $3.50 and its 200 day moving average is $3.15.

Moneygram International (NASDAQ:MGI) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.06). Moneygram International had a negative net margin of 4.65% and a negative return on equity of 3.29%. The company had revenue of $324.60 million during the quarter, compared to analyst estimates of $328.99 million. Analysts expect that Moneygram International will post -0.08 EPS for the current fiscal year.

In other Moneygram International news, insider Ripple Labs Inc. purchased 626,600 shares of the stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of $4.10 per share, with a total value of $2,569,060.00. Following the acquisition, the insider now owns 6,237,523 shares of the company’s stock, valued at $25,573,844.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 45.70% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ acquired a new position in Moneygram International during the 2nd quarter worth approximately $54,000. Teton Advisors Inc. grew its stake in shares of Moneygram International by 7.3% during the third quarter. Teton Advisors Inc. now owns 624,000 shares of the financial services provider’s stock worth $2,484,000 after buying an additional 42,500 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Moneygram International during the second quarter worth $226,000. Centaurus Financial Inc. acquired a new position in shares of Moneygram International during the second quarter worth $123,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in shares of Moneygram International during the third quarter worth $2,485,000. 62.01% of the stock is currently owned by institutional investors.

About Moneygram International

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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