Moneygram International (NASDAQ:MGI) Shares Gap Down to $2.56

Shares of Moneygram International Inc (NASDAQ:MGI) gapped down before the market opened on Thursday . The stock had previously closed at $1.84, but opened at $2.56. Moneygram International shares last traded at $2.76, with a volume of 42,338 shares traded.

A number of research firms recently weighed in on MGI. Barclays upped their target price on shares of Moneygram International from $2.00 to $3.50 and gave the stock an “underweight” rating in a research note on Monday, September 9th. BidaskClub downgraded Moneygram International from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Zacks Investment Research downgraded Moneygram International from a “buy” rating to a “hold” rating and set a $3.75 price target for the company. in a report on Monday, November 4th. ValuEngine raised Moneygram International from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Northland Securities reaffirmed a “buy” rating and issued a $6.00 price target on shares of Moneygram International in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Moneygram International currently has a consensus rating of “Hold” and an average price target of $4.42.

The stock has a fifty day moving average of $3.93 and a 200-day moving average of $3.13. The stock has a market capitalization of $216.60 million, a price-to-earnings ratio of 6.09 and a beta of 2.78.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Moneygram International in the third quarter valued at approximately $2,485,000. Toroso Investments LLC acquired a new stake in shares of Moneygram International in the second quarter valued at approximately $520,000. CSat Investment Advisory L.P. acquired a new stake in shares of Moneygram International in the second quarter valued at approximately $520,000. Jane Street Group LLC acquired a new stake in shares of Moneygram International in the second quarter valued at approximately $388,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Moneygram International in the second quarter valued at approximately $226,000. 63.13% of the stock is owned by hedge funds and other institutional investors.

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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