MoneyGram International (NASDAQ:MGI) Sets New 52-Week High at $10.97

MoneyGram International, Inc. (NASDAQ:MGI – Get Rating)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $10.97 and last traded at $10.97, with a volume of 98717 shares trading hands. The stock had previously closed at $10.96.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on MoneyGram International in a research note on Thursday, May 18th. They issued a “hold” rating for the company.

MoneyGram International Stock Performance

The business has a 50 day simple moving average of $10.50 and a 200-day simple moving average of $10.72. The stock has a market cap of $1.07 billion, a P/E ratio of 32.21 and a beta of 0.99.

MoneyGram International (NASDAQ:MGI – Get Rating) last issued its quarterly earnings results on Friday, February 24th. The financial services provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. MoneyGram International had a negative return on equity of 22.97% and a net margin of 2.54%. The firm had revenue of $342.10 million for the quarter, compared to analysts’ expectations of $338.30 million. On average, sell-side analysts predict that MoneyGram International, Inc. will post 0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Glazer Capital LLC purchased a new stake in MoneyGram International during the 4th quarter worth about $18,612,000. Hsbc Holdings PLC purchased a new stake in MoneyGram International during the 1st quarter worth about $12,856,000. Renaissance Technologies LLC lifted its holdings in MoneyGram International by 618.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,170,049 shares of the financial services provider’s stock worth $12,742,000 after purchasing an additional 1,007,300 shares in the last quarter. EVR Research LP lifted its holdings in MoneyGram International by 62.0% during the 1st quarter. EVR Research LP now owns 2,267,500 shares of the financial services provider’s stock worth $23,945,000 after purchasing an additional 867,500 shares in the last quarter. Finally, Sand Grove Capital Management LLP lifted its holdings in MoneyGram International by 12.3% during the 3rd quarter. Sand Grove Capital Management LLP now owns 7,823,318 shares of the financial services provider’s stock worth $81,363,000 after purchasing an additional 855,601 shares in the last quarter. Hedge funds and other institutional investors own 85.74% of the company’s stock.

About MoneyGram International

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MoneyGram International, Inc is a global payment services company, which engages in providing global money transfers, bill payment solutions, and money orders. It operates through the Global Funds Transfer (GFT) and Financial Paper Products (FPP) segments. The GFT segment provides money transfer services.