JPMorgan Chase & Co. cut its position in shares of Moneygram International, Inc. (NASDAQ:MGI) by 88.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,681 shares of the financial services provider’s stock after selling 74,532 shares during the period. JPMorgan Chase & Co.’s holdings in Moneygram International were worth $162,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new position in shares of Moneygram International during the fourth quarter worth $144,000. Gabelli Funds LLC purchased a new position in shares of Moneygram International during the first quarter worth $1,124,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Moneygram International during the first quarter worth $9,240,000. Gamco Investors INC. ET AL purchased a new position in shares of Moneygram International during the first quarter worth $710,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Moneygram International by 31.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 802,709 shares of the financial services provider’s stock worth $9,480,000 after buying an additional 193,429 shares in the last quarter. 89.64% of the stock is currently owned by institutional investors and hedge funds.
Shares of Moneygram International, Inc. (NASDAQ MGI) opened at 15.50 on Friday. The firm has a 50-day moving average price of $16.36 and a 200-day moving average price of $16.02. The stock has a market cap of $840.32 million, a P/E ratio of 31.89 and a beta of 1.92. Moneygram International, Inc. has a 52-week low of $5.83 and a 52-week high of $17.92.
Moneygram International (NASDAQ:MGI) last issued its quarterly earnings results on Monday, August 7th. The financial services provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. Moneygram International had a negative return on equity of 14.11% and a net margin of 2.03%. The company had revenue of $410 million for the quarter, compared to analyst estimates of $417.61 million. During the same quarter in the prior year, the company posted $0.15 EPS. On average, analysts anticipate that Moneygram International, Inc. will post $1.07 EPS for the current fiscal year.
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A number of research analysts have recently weighed in on MGI shares. ValuEngine raised Moneygram International from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub lowered Moneygram International from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $18.00 target price (up from $15.00) on shares of Moneygram International in a report on Monday, June 19th. Northland Securities reaffirmed a “hold” rating and set a $17.39 target price on shares of Moneygram International in a report on Friday, June 30th. Finally, Zacks Investment Research lowered Moneygram International from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $14.93.
Moneygram International Company Profile
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.
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