MoneyGram International (NASDAQ:MGI) Downgraded to “Sell” at StockNews.com

MoneyGram International (NASDAQ:MGIGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

MoneyGram International Price Performance

NASDAQ:MGI opened at $10.81 on Wednesday. MoneyGram International has a 12-month low of $5.62 and a 12-month high of $10.87. The firm has a market capitalization of $1.04 billion, a P/E ratio of 67.57 and a beta of 1.07. The business has a 50 day simple moving average of $10.54 and a 200 day simple moving average of $10.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGI. Pentwater Capital Management LP boosted its position in MoneyGram International by 615.6% during the 2nd quarter. Pentwater Capital Management LP now owns 5,855,000 shares of the financial services provider’s stock valued at $58,550,000 after purchasing an additional 5,036,800 shares during the period. Glazer Capital LLC acquired a new position in MoneyGram International during the 1st quarter valued at approximately $23,168,000. Tibra Equities Europe Ltd acquired a new position in MoneyGram International during the 1st quarter valued at approximately $16,222,000. Westchester Capital Management LLC boosted its position in MoneyGram International by 84.8% during the 2nd quarter. Westchester Capital Management LLC now owns 2,804,144 shares of the financial services provider’s stock valued at $28,041,000 after purchasing an additional 1,286,619 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in MoneyGram International during the 1st quarter worth $12,856,000. Institutional investors and hedge funds own 91.14% of the company’s stock.

About MoneyGram International

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MoneyGram International, Inc, together with its subsidiaries, provides cross-border peer-to-peer payments and 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 through third-party agents, including retail chains, independent retailers, post offices, banks, and other financial institutions; and digital solutions, such as moneygram.com, account deposit, and kiosk-based services, as well as mobile app solutions.

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