Short Interest in MoneyGram International, Inc. (NASDAQ:MGI) Decreases By 17.1%

MoneyGram International, Inc. (NASDAQ:MGIGet Rating) was the recipient of a large decrease in short interest in May. As of May 31st, there was short interest totalling 10,790,000 shares, a decrease of 17.1% from the May 15th total of 13,020,000 shares. Based on an average trading volume of 2,860,000 shares, the short-interest ratio is currently 3.8 days.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its holdings in shares of MoneyGram International by 8.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 18,963 shares of the financial services provider’s stock valued at $150,000 after acquiring an additional 1,400 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of MoneyGram International by 5.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 46,697 shares of the financial services provider’s stock valued at $375,000 after acquiring an additional 2,338 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of MoneyGram International by 11.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 23,525 shares of the financial services provider’s stock valued at $186,000 after acquiring an additional 2,500 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of MoneyGram International by 3.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 95,956 shares of the financial services provider’s stock valued at $757,000 after acquiring an additional 3,150 shares during the last quarter. Finally, Lindbrook Capital LLC grew its holdings in MoneyGram International by 1.4% in the 4th quarter. Lindbrook Capital LLC now owns 271,308 shares of the financial services provider’s stock valued at $2,141,000 after buying an additional 3,808 shares during the last quarter. 68.35% of the stock is currently owned by institutional investors and hedge funds.

Shares of MGI traded down $0.15 during midday trading on Thursday, reaching $9.66. 51,089 shares of the stock were exchanged, compared to its average volume of 3,908,992. The company has a market cap of $930.05 million, a price-to-earnings ratio of -49.05 and a beta of 1.30. The firm has a 50 day simple moving average of $10.05 and a 200-day simple moving average of $9.40. MoneyGram International has a 12-month low of $5.06 and a 12-month high of $12.36.

MoneyGram International (NASDAQ:MGIGet Rating) last issued its quarterly earnings data on Friday, May 6th. The financial services provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). The company had revenue of $307.60 million for the quarter, compared to analyst estimates of $316.30 million. MoneyGram International had a negative net margin of 1.36% and a negative return on equity of 20.50%. As a group, sell-side analysts predict that MoneyGram International will post 0.47 earnings per share for the current year.

Several equities research analysts recently issued reports on MGI shares. StockNews.com started coverage on MoneyGram International in a research note on Thursday, March 31st. They issued a “sell” rating for the company. Northland Securities downgraded MoneyGram International from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 22nd. Finally, William Blair reaffirmed a “market perform” rating on shares of MoneyGram International in a research note on Monday, March 7th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.00.

About MoneyGram International (Get Rating)

MoneyGram International, Inc is a global payment services company, which offers global money transfers, bill payment solutions and money orders. It operates through the following business segments: Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment provides money transfer services.

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