Moneygram International (NASDAQ:MGI) Trading Down 8.4%

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Shares of Moneygram International Inc (NASDAQ:MGI) dropped 8.4% on Thursday . The company traded as low as $3.30 and last traded at $3.06, approximately 107,424 shares were traded during trading. A decline of 96% from the average daily volume of 2,461,337 shares. The stock had previously closed at $3.34.

MGI has been the subject of a number of recent analyst reports. Zacks Investment Research raised Moneygram International from a “hold” rating to a “buy” rating and set a $2.23 price target for the company in a report on Thursday, March 5th. William Blair reiterated a “market perform” rating on shares of Moneygram International in a research report on Tuesday, February 25th. Northcoast Research reiterated a “neutral” rating on shares of Moneygram International in a research report on Wednesday, February 26th. Barclays decreased their price objective on Moneygram International from $2.00 to $1.00 and set an “underweight” rating on the stock in a research report on Monday, April 6th. Finally, Northland Securities lowered Moneygram International from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $3.50 to $1.00 in a research report on Tuesday, March 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Moneygram International has a consensus rating of “Hold” and an average price target of $1.41.

The stock has a market capitalization of $211.25 million, a P/E ratio of -3.44 and a beta of 2.57. The stock has a 50-day simple moving average of $1.99 and a 200 day simple moving average of $2.10.

Moneygram International (NASDAQ:MGI) last posted its quarterly earnings results on Friday, May 1st. The financial services provider reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The company had revenue of $290.90 million during the quarter, compared to the consensus estimate of $286.49 million. As a group, equities analysts forecast that Moneygram International Inc will post -0.34 EPS for the current year.

Several large investors have recently bought and sold shares of the company. State Street Corp boosted its position in shares of Moneygram International by 7.5% in the 4th quarter. State Street Corp now owns 59,839 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 4,149 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Moneygram International by 188.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,343 shares of the financial services provider’s stock worth $32,000 after buying an additional 10,023 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in Moneygram International during the 4th quarter worth $25,000. Cetera Advisor Networks LLC raised its stake in Moneygram International by 55.3% during the 4th quarter. Cetera Advisor Networks LLC now owns 37,447 shares of the financial services provider’s stock worth $78,000 after buying an additional 13,338 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Moneygram International during the 4th quarter worth $34,000. Institutional investors and hedge funds own 26.28% of the company’s stock.

Moneygram International Company Profile (NASDAQ:MGI)

MoneyGram International, Inc, together with its subsidiaries, provides money transfer services in the United States and internationally. The company operates through two segments, Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment offers money transfer services and bill payment services primarily to unbanked and underbanked consumers.

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