Moneygram International Inc (MGI) Sees Large Increase in Short Interest

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Moneygram International Inc (NASDAQ:MGI) was the target of a large increase in short interest in January. As of January 31st, there was short interest totalling 1,391,499 shares, an increase of 42.6% from the January 15th total of 975,717 shares. Approximately 4.9% of the shares of the company are short sold. Based on an average trading volume of 505,503 shares, the short-interest ratio is presently 2.8 days.

Several equities research analysts recently issued reports on MGI shares. Evercore ISI lowered Moneygram International from an “in-line” rating to an “underperform” rating in a research report on Friday, November 9th. ValuEngine raised Moneygram International from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Barclays started coverage on Moneygram International in a research report on Wednesday, November 14th. They set an “underweight” rating and a $2.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company has a consensus rating of “Hold” and an average target price of $5.08.

Shares of NASDAQ MGI opened at $2.26 on Thursday. Moneygram International has a 1-year low of $1.59 and a 1-year high of $11.82. The firm has a market capitalization of $131.25 million, a price-to-earnings ratio of 2.57 and a beta of 1.66.

Moneygram International (NASDAQ:MGI) last issued its earnings results on Monday, February 11th. The financial services provider reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Moneygram International had a negative return on equity of 10.35% and a negative net margin of 4.24%. The firm had revenue of $345.80 million for the quarter, compared to analyst estimates of $345.31 million. Equities analysts anticipate that Moneygram International will post 0.48 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Alambic Investment Management L.P. increased its position in Moneygram International by 575.4% in the fourth quarter. Alambic Investment Management L.P. now owns 406,392 shares of the financial services provider’s stock worth $813,000 after buying an additional 346,217 shares during the period. GSA Capital Partners LLP increased its position in Moneygram International by 11.1% in the fourth quarter. GSA Capital Partners LLP now owns 71,414 shares of the financial services provider’s stock worth $143,000 after buying an additional 7,146 shares during the period. BlackRock Inc. increased its position in Moneygram International by 1.7% in the fourth quarter. BlackRock Inc. now owns 2,209,353 shares of the financial services provider’s stock worth $4,418,000 after buying an additional 36,059 shares during the period. California Public Employees Retirement System increased its position in Moneygram International by 20.1% in the fourth quarter. California Public Employees Retirement System now owns 106,629 shares of the financial services provider’s stock worth $213,000 after buying an additional 17,851 shares during the period. Finally, Acadian Asset Management LLC increased its position in Moneygram International by 98.3% in the fourth quarter. Acadian Asset Management LLC now owns 753,595 shares of the financial services provider’s stock worth $1,507,000 after buying an additional 373,619 shares during the period. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

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About Moneygram International

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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