Schwab Charles Investment Management Inc. cut its stake in Moneygram International Inc (NASDAQ:MGI) by 7.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 117,696 shares of the financial services provider’s stock after selling 10,121 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.22% of Moneygram International worth $1,897,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. BW Gestao de Investimentos Ltda. purchased a new position in Moneygram International during the 2nd quarter worth $863,000. Citigroup Inc. grew its stake in Moneygram International by 168.2% during the 2nd quarter. Citigroup Inc. now owns 270,593 shares of the financial services provider’s stock worth $4,668,000 after buying an additional 169,706 shares during the last quarter. Quantbot Technologies LP purchased a new position in Moneygram International during the 3rd quarter worth $403,000. IndexIQ Advisors LLC grew its stake in Moneygram International by 18.8% during the 3rd quarter. IndexIQ Advisors LLC now owns 72,263 shares of the financial services provider’s stock worth $1,164,000 after buying an additional 11,415 shares during the last quarter. Finally, State Street Corp grew its stake in Moneygram International by 11.8% during the 2nd quarter. State Street Corp now owns 563,886 shares of the financial services provider’s stock worth $9,729,000 after buying an additional 59,606 shares during the last quarter. Institutional investors and hedge funds own 91.12% of the company’s stock.
Shares of Moneygram International Inc (NASDAQ MGI) opened at $12.60 on Friday. The company has a debt-to-equity ratio of -2.47, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market capitalization of $684.94, a PE ratio of 15.40 and a beta of 1.92. Moneygram International Inc has a one year low of $11.43 and a one year high of $17.92.
Moneygram International (NASDAQ:MGI) last posted its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.04. Moneygram International had a negative return on equity of 14.19% and a net margin of 1.86%. equities research analysts forecast that Moneygram International Inc will post 0.83 earnings per share for the current year.
Several research analysts recently weighed in on the company. Zacks Investment Research downgraded Moneygram International from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. downgraded Moneygram International from a “neutral” rating to an “underweight” rating in a research note on Tuesday, December 12th. ValuEngine upgraded Moneygram International from a “hold” rating to a “buy” rating in a research note on Saturday, December 9th. Finally, BidaskClub upgraded Moneygram International from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 11th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $16.21.
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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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