The Moneygram International Inc (MGI) Stock Rating Lowered by Zacks Investment Research

The Moneygram International Inc (MGI) Stock Rating Lowered by Zacks Investment Research

According to Zacks, “MoneyGram’s earnings of $0.26 per share, surpassed the Zacks Consensus Estimate of $0.15 and increased 53% year over year. MoneyGram stock gained 45.72% year till date significantly outperforming the Zacks categorized Miscellaneous Financial Services industry that lost 1.13%. The surge in the share price can be attributed to ongoing merger with Ant Financial. The partnership with Ant Financial will enhance the strength of Moneygram which operates in an intensively competitive and fast-changing payments industry. While on its own, the company has to continually invest in business in order to keep pace with the constantly evolving industry. Consequently, an union with a stable partner will make its journey easier. However, MoneyGram faces headwinds in the form of volatile currencies, stiff competition, rising expenses from heightened regulations and compliance requirements.”

Zacks Investment Research lowered shares of Moneygram International Inc (NASDAQ:MGI) from a buy rating to a hold rating in a research note released on Tuesday, May 16th.

Several other equities analysts have also recently weighed in on MGI. Feltl & Co. cut shares of Moneygram International from a buy rating to a hold rating and set a $13.25 target price for the company. in a research note on Monday, January 30th. William Blair cut shares of Moneygram International from an outperform rating to a market perform rating in a research note on Thursday, January 26th. Finally, First Analysis downgraded Moneygram International from an overweight rating to an equal weight rating in a report on Thursday, January 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $11.81. Moneygram International (NASDAQ:MGI) opened at 17.44 on Tuesday. Moneygram International has a 12-month low of $5.83 and a 12-month high of $17.92. The stock has a market capitalization of $942.41 million, a PE ratio of 39.64 and a beta of 2.02. The company’s 50-day moving average is $17.45 and its 200 day moving average is $14.17.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its position in Moneygram International by 122.9% in the first quarter. Renaissance Technologies LLC now owns 1,412,391 shares of the financial services provider’s stock worth $23,742,000 after buying an additional 778,700 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Moneygram International by 8.7% in the first quarter. Dimensional Fund Advisors LP now owns 872,270 shares of the financial services provider’s stock valued at $14,663,000 after buying an additional 69,561 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in Moneygram International during the first quarter valued at $9,240,000. State Street Corp boosted its stake in Moneygram International by 7.7% in the fourth quarter. State Street Corp now owns 490,053 shares of the financial services provider’s stock valued at $5,786,000 after buying an additional 35,026 shares during the period. Finally, Numeric Investors LLC purchased a new stake in Moneygram International during the fourth quarter valued at $5,517,000. 83.86% of the stock is owned by institutional investors and hedge funds. 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:MGI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”}); Get a free copy of the Zacks research report on Moneygram International (MGI)

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