Moneygram International, Inc. (MGI) Short Interest Up 89.2% in May

Moneygram International, Inc. (NASDAQ:MGI) was the recipient of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 2,488,903 shares, a growth of 89.2% from the May 15th total of 1,315,457 shares. Based on an average trading volume of 1,045,064 shares, the short-interest ratio is currently 2.4 days. Currently, 9.1% of the shares of the company are sold short.

Shares of Moneygram International (NASDAQ:MGI) opened at 17.26 on Friday. Moneygram International has a 12-month low of $5.83 and a 12-month high of $17.92. The stock’s 50 day moving average price is $17.34 and its 200-day moving average price is $14.62. The company has a market cap of $932.68 million, a PE ratio of 39.23 and a beta of 1.92.

Moneygram International (NASDAQ:MGI) last issued its quarterly earnings data on Thursday, May 4th. The financial services provider reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.05. The firm had revenue of $386.10 million for the quarter, compared to analysts’ expectations of $387.92 million. Moneygram International had a net margin of 1.87% and a negative return on equity of 12.41%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 earnings per share. On average, equities research analysts forecast that Moneygram International will post $1.00 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Boothbay Fund Management LLC purchased a new stake in shares of Moneygram International during the fourth quarter valued at $129,000. Bank of America Corp DE boosted its stake in shares of Moneygram International by 34.1% in the first quarter. Bank of America Corp DE now owns 7,918 shares of the financial services provider’s stock valued at $133,000 after buying an additional 2,015 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Moneygram International during the fourth quarter valued at $144,000. Teton Advisors Inc. purchased a new stake in shares of Moneygram International during the first quarter valued at $168,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Moneygram International during the first quarter valued at $192,000. 89.84% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on MGI. Feltl & Co. cut shares of Moneygram International from a “hold” rating to a “sell” rating in a report on Monday, April 17th. ValuEngine raised shares of Moneygram International from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research cut shares of Moneygram International from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.81.

TRADEMARK VIOLATION WARNING: This report was posted by WKRB News and is the property of of WKRB News. If you are reading this report on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The original version of this report can be viewed at https://www.wkrb13.com/markets/2231171/moneygram-international-inc-mgi-short-interest-up-89-2-in-may.html.

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.

This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2231171/moneygram-international-inc-mgi-short-interest-up-89-2-in-may.html

Receive News & Ratings for Moneygram International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moneygram International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 


Leave a Reply

 
© 2006-2017 WKRB News.