PEAK6 Investments L.P. cut its holdings in Moneygram International, Inc. (NASDAQ:MGI) by 22.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 123,446 shares of the financial services provider’s stock after selling 35,000 shares during the period. PEAK6 Investments L.P. owned approximately 0.23% of Moneygram International worth $1,989,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA grew its stake in Moneygram International by 108.8% during the second quarter. BNP Paribas Arbitrage SA now owns 6,942 shares of the financial services provider’s stock worth $120,000 after buying an additional 3,618 shares in the last quarter. Bank of America Corp DE grew its stake in Moneygram International by 34.1% during the first quarter. Bank of America Corp DE now owns 7,918 shares of the financial services provider’s stock worth $133,000 after buying an additional 2,015 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in Moneygram International during the third quarter worth about $145,000. Alps Advisors Inc. acquired a new stake in Moneygram International during the second quarter worth about $178,000. Finally, Dumac Inc. acquired a new stake in Moneygram International during the second quarter worth about $203,000. Institutional investors and hedge funds own 91.12% of the company’s stock.
A number of brokerages have issued reports on MGI. BidaskClub downgraded shares of Moneygram International from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 4th. Northland Securities reiterated a “hold” rating on shares of Moneygram International in a research note on Tuesday, September 5th. Finally, ValuEngine downgraded shares of Moneygram International from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Moneygram International presently has a consensus rating of “Hold” and an average price target of $16.21.
Shares of Moneygram International, Inc. (MGI) opened at $13.43 on Thursday. The stock has a market cap of $728.33, a PE ratio of 17.07 and a beta of 1.91. The company has a debt-to-equity ratio of -2.47, a quick ratio of 0.05 and a current ratio of 0.05. Moneygram International, Inc. has a one year low of $10.76 and a one year high of $17.92.
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Moneygram International Profile
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.
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