Shares of Moneygram International Inc (NASDAQ:MGI) gapped down prior to trading on Thursday . The stock had previously closed at $1.84, but opened at $2.56. Moneygram International shares last traded at $2.76, with a volume of 42,338 shares changing hands.

MGI has been the subject of a number of research analyst reports. BidaskClub cut Moneygram International from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Northland Securities restated a “buy” rating and issued a $6.00 price target on shares of Moneygram International in a research report on Friday, November 1st. Barclays raised their price target on Moneygram International from $2.00 to $3.50 and gave the company an “underweight” rating in a research report on Monday, September 9th. Zacks Investment Research cut Moneygram International from a “buy” rating to a “hold” rating and set a $3.75 price target for the company. in a research report on Monday, November 4th. Finally, ValuEngine upgraded Moneygram International from a “sell” rating to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $4.42.

The firm has a market cap of $216.60 million, a price-to-earnings ratio of 6.09 and a beta of 2.78. The business has a 50 day moving average of $3.93 and a 200 day moving average of $3.13.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace North America L.P. acquired a new stake in shares of Moneygram International during the second quarter valued at $51,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Moneygram International during the second quarter valued at $54,000. Cetera Advisor Networks LLC acquired a new stake in shares of Moneygram International during the third quarter valued at $96,000. Thoroughbred Financial Services LLC acquired a new stake in shares of Moneygram International during the second quarter valued at $3,334,000. Finally, Centaurus Financial Inc. acquired a new stake in shares of Moneygram International during the second quarter valued at $123,000. 63.13% of the stock is currently owned by institutional investors and hedge funds.

About Moneygram International (NASDAQ:MGI)

MoneyGram International, Inc, together with its subsidiaries, provides 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 primarily to unbanked and underbanked consumers.

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