MoneyGram International (NASDAQ:MGI) Sees Unusually-High Trading Volume

Shares of MoneyGram International, Inc. (NASDAQ:MGIGet Rating) saw unusually-high trading volume on Friday . Approximately 53,920 shares changed hands during mid-day trading, a decline of 88% from the previous session’s volume of 437,518 shares.The stock last traded at $10.37 and had previously closed at $10.46.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised MoneyGram International from a “sell” rating to a “hold” rating in a report on Friday, September 9th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, MoneyGram International presently has a consensus rating of “Hold” and a consensus price target of $6.00.

MoneyGram International Stock Down 0.7 %

The company’s fifty day simple moving average is $10.33 and its 200-day simple moving average is $10.24.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. bought a new position in MoneyGram International in the 4th quarter valued at $268,000. Raymond James & Associates acquired a new position in MoneyGram International during the 4th quarter worth about $520,000. Bank of America Corp DE grew its holdings in MoneyGram International by 144.8% during the 4th quarter. Bank of America Corp DE now owns 333,513 shares of the financial services provider’s stock worth $2,631,000 after acquiring an additional 197,288 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in MoneyGram International in the 4th quarter valued at about $79,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of MoneyGram International by 103.6% in the fourth quarter. BNP Paribas Arbitrage SA now owns 46,139 shares of the financial services provider’s stock worth $364,000 after acquiring an additional 23,481 shares during the last quarter. 91.14% of the stock is owned by institutional investors and hedge funds.

About MoneyGram International

(Get Rating)

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.

Featured Stories

Receive News & Ratings for MoneyGram International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MoneyGram International and related companies with MarketBeat.com's FREE daily email newsletter.