MoneyGram International, Inc. (NASDAQ:MGI – Get Rating) shares saw an uptick in trading volume on Thursday . 11,787,475 shares were traded during trading, an increase of 424% from the previous session's volume of 2,248,208 shares.The stock last traded at $10.92 and had previously closed at $9.66.
Analyst Upgrades and Downgrades
Separately, StockNews.com initiated coverage on MoneyGram International in a report on Thursday, March 16th. They set a "hold" rating on the stock.
Get MoneyGram International alerts:MoneyGram International Trading Up 13.1 %
The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 32.12 and a beta of 0.99. The stock has a 50-day moving average of $10.47 and a 200-day moving average of $10.68.
MoneyGram International (NASDAQ:MGI – Get Rating) last announced its quarterly earnings results on Friday, February 24th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.10. MoneyGram International had a negative return on equity of 22.59% and a net margin of 2.61%. The company had revenue of $342.10 million during the quarter, compared to analyst estimates of $338.30 million. As a group, research analysts expect that MoneyGram International, Inc. will post 0.56 earnings per share for the current fiscal year.
Institutional Trading of MoneyGram International
Several large investors have recently made changes to their positions in MGI. JPMorgan Chase & Co. boosted its stake in MoneyGram International by 110.1% during the 1st quarter. JPMorgan Chase & Co. now owns 73,419 shares of the financial services provider's stock valued at $776,000 after purchasing an additional 38,467 shares during the period. MetLife Investment Management LLC raised its holdings in MoneyGram International by 49.1% in the 1st quarter. MetLife Investment Management LLC now owns 40,558 shares of the financial services provider's stock valued at $428,000 after acquiring an additional 13,347 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in MoneyGram International by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,072,100 shares of the financial services provider's stock valued at $11,321,000 after acquiring an additional 14,021 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in MoneyGram International by 103.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,201,900 shares of the financial services provider's stock valued at $12,692,000 after acquiring an additional 611,900 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in MoneyGram International by 10.3% in the 1st quarter. Allianz Asset Management GmbH now owns 73,700 shares of the financial services provider's stock valued at $779,000 after acquiring an additional 6,900 shares in the last quarter. Institutional investors own 85.74% of the company's stock.
About MoneyGram International
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MoneyGram International, Inc is a global payment services company, which engages in providing global money transfers, bill payment solutions, and money orders. It operates through the Global Funds Transfer (GFT) and Financial Paper Products (FPP) segments. The GFT segment provides money transfer services.
Further Reading
- Get a free copy of the StockNews.com research report on MoneyGram International (MGI)
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