Moneygram International, Inc. (MGI) Downgraded by BidaskClub

Moneygram International, Inc. (NASDAQ:MGI) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Saturday, November 4th.

A number of other equities research analysts have also recently commented on MGI. Northland Securities reiterated a “hold” rating on shares of Moneygram International in a research note on Tuesday, September 5th. ValuEngine cut Moneygram International from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $16.21.

Moneygram International (NASDAQ MGI) traded down $0.18 on Friday, reaching $14.59. 158,100 shares of the company’s stock were exchanged, compared to its average volume of 673,887. The stock has a market cap of $801.00, a P/E ratio of 18.01 and a beta of 2.00. Moneygram International has a 1 year low of $10.36 and a 1 year high of $17.92. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of -2.47.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Cornerstone Capital Management Holdings LLC. boosted its stake in Moneygram International by 134.7% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 90,600 shares of the financial services provider’s stock worth $1,459,000 after buying an additional 52,000 shares in the last quarter. Westchester Capital Management LLC boosted its stake in Moneygram International by 109.1% in the third quarter. Westchester Capital Management LLC now owns 484,417 shares of the financial services provider’s stock worth $7,804,000 after buying an additional 252,801 shares in the last quarter. Cowen Inc. boosted its stake in Moneygram International by 228.8% in the third quarter. Cowen Inc. now owns 369,501 shares of the financial services provider’s stock worth $5,953,000 after buying an additional 656,301 shares in the last quarter. Sand Grove Capital Management LLP boosted its stake in Moneygram International by 5.6% in the third quarter. Sand Grove Capital Management LLP now owns 1,194,122 shares of the financial services provider’s stock worth $19,273,000 after buying an additional 63,618 shares in the last quarter. Finally, KBC Group NV purchased a new stake in Moneygram International in the third quarter worth approximately $922,000. 92.97% of the stock is owned by institutional investors.

About Moneygram International

MoneyGram International, Inc (MoneyGram) is a global provider of money transfer services. The Company operates through two segments: Global Funds Transfer and Financial Paper Products. The Company offers its services under the MoneyGram brand. The Company’s Global Funds Transfer Segment provides money transfer services and bill payment services primarily to unbanked and underbanked consumers.

Analyst Recommendations for Moneygram International (NASDAQ:MGI)

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