Sand Grove Capital Management LLP increased its stake in shares of Moneygram International, Inc. (NASDAQ:MGI) by 47.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,130,504 shares of the financial services provider’s stock after buying an additional 365,243 shares during the quarter. Moneygram International comprises approximately 3.5% of Sand Grove Capital Management LLP’s investment portfolio, making the stock its 11th biggest holding. Sand Grove Capital Management LLP owned 2.09% of Moneygram International worth $19,603,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MGI. Renaissance Technologies LLC grew its holdings in shares of Moneygram International by 122.9% during the first quarter. Renaissance Technologies LLC now owns 1,412,391 shares of the financial services provider’s stock valued at $23,742,000 after buying an additional 778,700 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Moneygram International by 7,472.6% during the second quarter. JPMorgan Chase & Co. now owns 733,103 shares of the financial services provider’s stock valued at $12,646,000 after buying an additional 723,422 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Moneygram International by 807.7% during the second quarter. SG Americas Securities LLC now owns 755,589 shares of the financial services provider’s stock valued at $13,034,000 after buying an additional 672,344 shares during the last quarter. State of Wisconsin Investment Board purchased a new stake in shares of Moneygram International during the second quarter valued at $9,065,000. Finally, NINE MASTS CAPITAL Ltd purchased a new stake in shares of Moneygram International during the second quarter valued at $7,338,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on the stock. BidaskClub lowered shares of Moneygram International from a “sell” rating to a “strong sell” rating in a report on Wednesday. Northland Securities reissued a “hold” rating and set a $17.39 price objective on shares of Moneygram International in a report on Friday, June 30th. Morgan Stanley reissued an “equal weight” rating and set a $18.00 price objective (up from $15.00) on shares of Moneygram International in a report on Monday, June 19th. Finally, ValuEngine upgraded shares of Moneygram International from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $14.93.

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Moneygram International, Inc. (NASDAQ MGI) traded up 0.56% on Friday, reaching $16.13. 188,521 shares of the company were exchanged. Moneygram International, Inc. has a 52 week low of $5.83 and a 52 week high of $17.92. The stock has a 50-day moving average price of $15.86 and a 200 day moving average price of $16.56. The stock has a market capitalization of $874.47 million, a price-to-earnings ratio of 33.19 and a beta of 1.92.

Moneygram International (NASDAQ:MGI) last issued its quarterly earnings data on Monday, August 7th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.05. Moneygram International had a net margin of 2.03% and a negative return on equity of 14.11%. The company had revenue of $410.00 million for the quarter, compared to the consensus estimate of $417.61 million. During the same period last year, the firm posted $0.15 EPS. Analysts forecast that Moneygram International, Inc. will post $1.07 earnings per share for the current year.

Moneygram International Profile

MoneyGram International, Inc (MoneyGram) is a global provider of money transfer services. The Company operates through two segments: Global Funds Transfer and Financial Paper Products. The Company offers its services under the MoneyGram brand. The Company’s Global Funds Transfer Segment provides money transfer services and bill payment services primarily to unbanked and underbanked consumers.

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

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