Cooke & Bieler LP increased its stake in MoneyGram International Inc. (NASDAQ:MGI) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,397,006 shares of the company’s stock after buying an additional 12,370 shares during the period. Cooke & Bieler LP’s holdings in MoneyGram International were worth $16,419,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Menta Capital LLC acquired a new position in MoneyGram International during the first quarter worth $213,000. Landscape Capital Management L.L.C. raised its position in 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. Royce & Associates LP raised its position in 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. Bogle Investment Management L P DE raised its position in MoneyGram International by 57.0% in the first quarter. Bogle Investment Management L P DE now owns 138,055 shares of the company’s stock worth $844,000 after buying an additional 50,097 shares during the period. Finally, Bank of Montreal Can acquired a new position in MoneyGram International during the second quarter worth $1,144,000. 92.46% of the stock is currently owned by institutional investors and hedge funds.
Shares of MoneyGram International Inc. (NASDAQ:MGI) traded up 1.41% during mid-day trading on Tuesday, hitting $6.46. 20,229 shares of the stock traded hands. The company has a market capitalization of $345.25 million, a PE ratio of 64.60 and a beta of 1.69. MoneyGram International Inc. has a 1-year low of $4.68 and a 1-year high of $10.92. The company’s 50-day moving average price is $7.02 and its 200 day moving average price is $6.77.
MoneyGram International (NASDAQ:MGI) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.15 earnings per share (EPS) 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 net margin of 0.43% and a negative return on equity of 10.13%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 earnings per share. Equities research analysts forecast that MoneyGram International Inc. will post $0.78 EPS for the current fiscal year.
A number of research analysts have weighed in on the stock. Compass Point reaffirmed a “neutral” rating and issued a $8.00 price objective on shares of MoneyGram International in a research note on Tuesday, October 11th. Zacks Investment Research raised shares of MoneyGram International from a “hold” rating to a “strong-buy” rating and set a $8.50 price objective on the stock in a research note on Thursday, July 21st. William Blair reaffirmed an “outperform” rating on shares of MoneyGram International in a research note on Tuesday, July 19th. Finally, JPMorgan Chase & Co. lowered shares of MoneyGram International from an “overweight” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a research note on Tuesday, July 12th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. MoneyGram International presently has an average rating of “Buy” and an average price target of $8.17.
MoneyGram International Company Profile
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.
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