MoneyGram International Inc (MGI) Sees Significant Decrease in Short Interest

MoneyGram International Inc (NASDAQ:MGI) saw a significant drop in short interest in the month of March. As of March 29th, there was short interest totalling 759,280 shares, a drop of 27.9% from the March 15th total of 1,053,128 shares. Based on an average daily volume of 555,126 shares, the days-to-cover ratio is currently 1.4 days. Approximately 2.7% of the shares of the company are sold short.

A number of large investors have recently made changes to their positions in MGI. State of Wisconsin Investment Board increased its stake in MoneyGram International by 58.1% in the fourth quarter. State of Wisconsin Investment Board now owns 2,415,344 shares of the financial services provider’s stock valued at $31,834,000 after acquiring an additional 887,900 shares during the last quarter. NINE MASTS CAPITAL Ltd bought a new position in MoneyGram International in the fourth quarter valued at approximately $5,607,000. LSV Asset Management bought a new position in MoneyGram International in the fourth quarter valued at approximately $1,832,000. Quinn Opportunity Partners LLC increased its stake in MoneyGram International by 54.9% in the fourth quarter. Quinn Opportunity Partners LLC now owns 199,774 shares of the financial services provider’s stock valued at $2,633,000 after acquiring an additional 70,774 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in MoneyGram International by 189.9% in the fourth quarter. Alliancebernstein L.P. now owns 86,402 shares of the financial services provider’s stock valued at $1,139,000 after acquiring an additional 56,602 shares during the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.

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Shares of NASDAQ:MGI opened at $8.48 on Tuesday. The company has a market capitalization of $463.10, a P/E ratio of 9.64 and a beta of 1.88. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of -2.12. MoneyGram International has a 1 year low of $8.01 and a 1 year high of $17.92.

MoneyGram International (NASDAQ:MGI) last announced its quarterly earnings data on Friday, March 16th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. The business had revenue of $408.20 million for the quarter, compared to analysts’ expectations of $404.69 million. MoneyGram International had a negative net margin of 1.86% and a negative return on equity of 14.43%. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the firm posted $0.20 earnings per share. equities analysts predict that MoneyGram International will post 0.87 EPS for the current fiscal year.

Several research analysts have recently commented on the stock. ValuEngine cut shares of MoneyGram International from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. TheStreet cut shares of MoneyGram International from a “c” rating to a “d+” rating in a report on Friday, March 16th. Finally, Zacks Investment Research cut shares of MoneyGram International from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $17.70.

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MoneyGram International Company Profile

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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