Bank of New York Mellon Corp boosted its position in shares of MoneyGram International Inc. (NASDAQ:MGI) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 201,547 shares of the company’s stock after buying an additional 1,268 shares during the period. Bank of New York Mellon Corp owned 0.37% of MoneyGram International worth $1,380,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in shares of MoneyGram International by 2.8% in the first quarter. Geode Capital Management LLC now owns 232,116 shares of the company’s stock worth $1,420,000 after buying an additional 6,284 shares during the period. Cooke & Bieler LP increased its position in shares of MoneyGram International by 0.5% in the second quarter. Cooke & Bieler LP now owns 2,397,006 shares of the company’s stock worth $16,419,000 after buying an additional 12,370 shares during the period. Landscape Capital Management L.L.C. increased its position in shares of MoneyGram International by 64.4% in the first quarter. Landscape Capital Management L.L.C. now owns 47,520 shares of the company’s stock worth $291,000 after buying an additional 18,620 shares during the period. Menta Capital LLC acquired a new position in shares of MoneyGram International during the first quarter worth approximately $213,000. Finally, Royce & Associates LP increased its position in shares of MoneyGram International by 70.5% in the first quarter. Royce & Associates LP now owns 99,203 shares of the company’s stock worth $607,000 after buying an additional 41,007 shares during the period. Hedge funds and other institutional investors own 92.46% of the company’s stock.
Shares of MoneyGram International Inc. (NASDAQ:MGI) traded down 2.15% during trading on Tuesday, hitting $6.83. The stock had a trading volume of 20,766 shares. MoneyGram International Inc. has a one year low of $4.68 and a one year high of $10.92. The stock has a market cap of $365.03 million, a P/E ratio of 68.30 and a beta of 1.69. The stock’s 50 day moving average price is $7.12 and its 200-day moving average price is $6.76.
MoneyGram International (NASDAQ:MGI) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.06. The company had revenue of $383.70 million for the quarter, compared to analysts’ expectations of $389.16 million. MoneyGram International had a negative return on equity of 10.13% and a net margin of 0.43%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. Analysts expect that MoneyGram International Inc. will post $0.78 earnings per share for the current fiscal year.
A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of MoneyGram International from a “hold” rating to a “strong-buy” rating and set a $8.50 price objective for the company in a research note on Thursday, July 21st. William Blair reissued an “outperform” rating on shares of MoneyGram International in a research note on Tuesday, July 19th. JPMorgan Chase & Co. downgraded MoneyGram International from an “overweight” rating to a “neutral” rating and set a $8.00 price target on the stock. in a research report on Tuesday, July 12th. Finally, Compass Point reaffirmed a “neutral” rating and set a $8.00 price target on shares of MoneyGram International in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. MoneyGram International presently has a consensus rating of “Buy” and a consensus target price of $8.17.
About MoneyGram International
MoneyGram International, Inc is a provider of money transfer services. The Company operates through two segments: Global Funds Transfer and Financial Paper Products. The Company’s Global Funds Transfer segment offers money transfer services and bill payment services primarily to unbanked and underbanked consumers.
Want to see what other hedge funds are holding MGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MoneyGram International Inc. (NASDAQ:MGI).
Receive News & Ratings for MoneyGram International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MoneyGram International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.