Victory Capital Management Inc. lifted its holdings in shares of MoneyGram International, Inc. (NASDAQ:MGI) by 22.4% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,126 shares of the financial services provider’s stock after buying an additional 2,401 shares during the period. Victory Capital Management Inc.’s holdings in MoneyGram International were worth $132,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of MGI. Dimensional Fund Advisors LP increased its holdings in MoneyGram International by 17.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 709,466 shares of the financial services provider’s stock worth $3,877,000 after purchasing an additional 104,200 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of MoneyGram International by 85.6% in the first quarter. BNP Paribas Arbitrage SA now owns 32,321 shares of the financial services provider’s stock valued at $212,000 after buying an additional 14,907 shares during the period. Harbor Financial Services LLC increased its stake in shares of MoneyGram International by 16.8% in the first quarter. Harbor Financial Services LLC now owns 12,325 shares of the financial services provider’s stock valued at $81,000 after buying an additional 1,775 shares during the period. HighTower Advisors LLC boosted its position in shares of MoneyGram International by 7.9% during the 1st quarter. HighTower Advisors LLC now owns 66,769 shares of the financial services provider’s stock valued at $439,000 after purchasing an additional 4,901 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of MoneyGram International during the 1st quarter valued at about $1,326,000. 65.28% of the stock is owned by institutional investors and hedge funds.
MGI stock opened at $8.41 on Tuesday. MoneyGram International, Inc. has a twelve month low of $2.61 and a twelve month high of $12.36. The stock’s 50 day moving average is $9.62 and its 200-day moving average is $8.73. The firm has a market capitalization of $769.57 million, a PE ratio of -70.08 and a beta of 1.70.
In related news, insider Andres Villareal sold 49,194 shares of the stock in a transaction that occurred on Thursday, August 5th. The stock was sold at an average price of $10.07, for a total transaction of $495,383.58. Following the completion of the sale, the insider now directly owns 486,785 shares of the company’s stock, valued at $4,901,924.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Francisco Lorca purchased 5,037 shares of the firm’s stock in a transaction that occurred on Tuesday, August 3rd. The shares were acquired at an average cost of $9.98 per share, with a total value of $50,269.26. Following the completion of the transaction, the director now directly owns 28,403 shares of the company’s stock, valued at approximately $283,461.94. The disclosure for this purchase can be found here. 3.70% of the stock is owned by company insiders.
Several brokerages recently commented on MGI. Zacks Investment Research lowered MoneyGram International from a “hold” rating to a “strong sell” rating and set a $8.50 target price on the stock. in a research report on Wednesday, July 7th. Barclays increased their price target on MoneyGram International from $7.00 to $9.00 and gave the stock an “underweight” rating in a report on Sunday, July 11th.
MoneyGram International Company Profile
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.
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