MoneyGram International (NASDAQ:MGI) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of MoneyGram International (NASDAQ:MGI – Get Rating) in a research report report published on Thursday. The brokerage issued a hold rating on the financial services provider’s stock.

MoneyGram International Price Performance

NASDAQ:MGI opened at $10.65 on Thursday. MoneyGram International has a one year low of $9.18 and a one year high of $10.96. The company has a market cap of $1.03 billion, a PE ratio of 31.32 and a beta of 1.05. The firm has a 50-day moving average of $10.84 and a 200-day moving average of $10.71.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PenderFund Capital Management Ltd. boosted its holdings in MoneyGram International by 30.5% during the third quarter. PenderFund Capital Management Ltd. now owns 54,800 shares of the financial services provider’s stock worth $787,000 after purchasing an additional 12,800 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in MoneyGram International by 13.4% in the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 1,057,593 shares of the financial services provider’s stock valued at $10,999,000 after acquiring an additional 124,657 shares during the last quarter. Sand Grove Capital Management LLP boosted its stake in MoneyGram International by 12.3% in the third quarter. Sand Grove Capital Management LLP now owns 7,823,318 shares of the financial services provider’s stock valued at $81,363,000 after acquiring an additional 855,601 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in MoneyGram International by 56.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,458,700 shares of the financial services provider’s stock valued at $14,587,000 after acquiring an additional 524,900 shares during the last quarter. Finally, Havens Advisors LLC boosted its stake in MoneyGram International by 93.6% in the third quarter. Havens Advisors LLC now owns 54,199 shares of the financial services provider’s stock valued at $564,000 after acquiring an additional 26,199 shares during the last quarter. 85.74% of the stock is currently owned by hedge funds and other institutional investors.

MoneyGram International Company Profile

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MoneyGram International, Inc is a global payment services company, which engages in providing global money transfers, bill payment solutions, and money orders. It operates through the Global Funds Transfer (GFT) and Financial Paper Products (FPP) segments. The GFT segment provides money transfer services.