Eagle Asset Management Inc. Makes New $17.07 Million Investment in MoneyGram International, Inc. (NASDAQ:MGI)

Eagle Asset Management Inc. bought a new position in MoneyGram International, Inc. (NASDAQ:MGIGet Rating) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 2,263,289 shares of the financial services provider’s stock, valued at approximately $17,065,000. Eagle Asset Management Inc. owned approximately 2.47% of MoneyGram International at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Counterpoint Mutual Funds LLC purchased a new stake in shares of MoneyGram International during the 4th quarter valued at $31,000. Point72 Hong Kong Ltd purchased a new stake in shares of MoneyGram International during the 3rd quarter valued at $48,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of MoneyGram International during the 4th quarter valued at $79,000. FNY Investment Advisers LLC raised its position in shares of MoneyGram International by 48.9% during the 4th quarter. FNY Investment Advisers LLC now owns 12,000 shares of the financial services provider’s stock valued at $94,000 after buying an additional 3,940 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of MoneyGram International during the 4th quarter valued at $120,000. Institutional investors and hedge funds own 68.35% of the company’s stock.

Shares of MGI opened at $9.38 on Friday. The firm’s 50-day moving average price is $10.31 and its 200-day moving average price is $8.89. The firm has a market capitalization of $903.11 million, a price-to-earnings ratio of -46.90 and a beta of 1.30. MoneyGram International, Inc. has a 1-year low of $5.06 and a 1-year high of $12.36.

MoneyGram International (NASDAQ:MGIGet Rating) last issued its quarterly earnings results on Friday, May 6th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). MoneyGram International had a negative net margin of 1.36% and a negative return on equity of 20.36%. The business had revenue of $307.60 million for the quarter, compared to analysts’ expectations of $316.30 million. As a group, sell-side analysts expect that MoneyGram International, Inc. will post 0.47 earnings per share for the current fiscal year.

In other MoneyGram International news, insider Adrianna E. Greenwald sold 8,825 shares of MoneyGram International stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $10.67, for a total value of $94,162.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Robert L. Villasenor sold 21,597 shares of the business’s stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $10.66, for a total transaction of $230,224.02. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.

Several research firms recently commented on MGI. Northland Securities lowered shares of MoneyGram International from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 22nd. StockNews.com began coverage on shares of MoneyGram International in a report on Thursday, March 31st. They set a “sell” rating on the stock. TheStreet raised shares of MoneyGram International from a “d+” rating to a “c” rating in a report on Friday, January 21st. Finally, William Blair reaffirmed a “market perform” rating on shares of MoneyGram International in a report on Monday, March 7th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.88.

MoneyGram International Profile (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.

See Also

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Institutional Ownership by Quarter for MoneyGram International (NASDAQ:MGI)

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