The 108,992 Shares in MoneyGram International Inc. (MGI) Acquired by Zacks Investment Management

The 108,992 Shares in MoneyGram International Inc. (MGI) Acquired by Zacks Investment Management

Zacks Investment Management acquired a new stake in MoneyGram International Inc. (NASDAQ:MGI) during the third quarter, Holdings Channel reports. The fund acquired 108,992 shares of the company’s stock, valued at approximately $774,000. Zacks Investment Management owned approximately 0.21% of MoneyGram International as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MGI. Cooke & Bieler LP boosted its stake in shares of MoneyGram International by 0.5% in the second quarter. Cooke & Bieler LP now owns 2,397,006 shares of the company’s stock worth $16,419,000 after buying an additional 12,370 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of MoneyGram International by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 201,547 shares of the company’s stock worth $1,380,000 after buying an additional 1,268 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of MoneyGram International by 4.6% in the second quarter. Neuberger Berman Group LLC now owns 1,749,815 shares of the company’s stock worth $11,986,000 after buying an additional 76,632 shares during the period. Lapides Asset Management LLC boosted its stake in shares of MoneyGram International by 1.8% in the second quarter. Lapides Asset Management LLC now owns 712,200 shares of the company’s stock worth $4,879,000 after buying an additional 12,800 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of MoneyGram International by 2.1% in the second quarter. Vanguard Group Inc. now owns 1,940,320 shares of the company’s stock worth $13,291,000 after buying an additional 39,687 shares during the period. 93.26% of the stock is owned by institutional investors and hedge funds.

Shares of MoneyGram International Inc. (NASDAQ:MGI) traded up 1.88% during trading on Thursday, hitting $11.91. The stock had a trading volume of 883,346 shares. MoneyGram International Inc. has a one year low of $4.68 and a one year high of $13.10. The firm has a market cap of $632.86 million, a P/E ratio of 66.17 and a beta of 1.99. The firm’s 50-day moving average is $12.02 and its 200-day moving average is $8.59.

MoneyGram International (NASDAQ:MGI) last announced its earnings results on Friday, October 28th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.03. The business had revenue of $383.10 million for the quarter, compared to analyst estimates of $389.53 million. MoneyGram International had a negative return on equity of 11.22% and a net margin of 0.78%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 earnings per share. Equities research analysts forecast that MoneyGram International Inc. will post $0.81 EPS for the current year.

A number of brokerages recently issued reports on MGI. TheStreet raised MoneyGram International from a “sell” rating to a “hold” rating in a research report on Friday, October 28th. Zacks Investment Research cut MoneyGram International from a “buy” rating to a “hold” rating in a research report on Monday, December 19th. Feltl & Co. cut MoneyGram International from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 21st. Finally, Compass Point reaffirmed a “neutral” rating and set a $8.00 price objective on shares of MoneyGram International in a research report on Tuesday, October 11th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $10.00.

MoneyGram International Company Profile

MoneyGram International, Inc is a provider of money transfer services. The Company operates through two segments: Global Funds Transfer and Financial Paper Products. The Company’s Global Funds Transfer segment offers money transfer services and bill payment services primarily to unbanked and underbanked consumers.

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