Moneygram International, Inc. (NASDAQ:MGI) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 3,659,314 shares, a drop of 24.5% from the October 31st total of 4,847,914 shares. Based on an average trading volume of 564,042 shares, the short-interest ratio is presently 6.5 days. Approximately 13.3% of the company’s shares are sold short.

Moneygram International (NASDAQ MGI) opened at $14.24 on Friday. Moneygram International has a one year low of $10.36 and a one year high of $17.92. The firm has a market cap of $777.68, a P/E ratio of 17.45 and a beta of 2.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of -2.47.

A number of analysts have weighed in on the company. BidaskClub upgraded Moneygram International from a “strong sell” rating to a “sell” rating in a report on Saturday, September 30th. ValuEngine cut shares of Moneygram International from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Northland Securities reissued a “hold” rating on shares of Moneygram International in a research report on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $16.21.

A number of institutional investors have recently added to or reduced their stakes in the stock. USA Financial Portformulas Corp grew its stake in Moneygram International by 3.9% in the 2nd quarter. USA Financial Portformulas Corp now owns 22,769 shares of the financial services provider’s stock valued at $393,000 after buying an additional 852 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Moneygram International by 4.8% in the 2nd quarter. Wells Fargo & Company MN now owns 21,129 shares of the financial services provider’s stock valued at $365,000 after purchasing an additional 973 shares during the period. Bank of America Corp DE boosted its holdings in Moneygram International by 34.1% in the 1st quarter. Bank of America Corp DE now owns 7,918 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 2,015 shares during the period. Voya Investment Management LLC boosted its holdings in Moneygram International by 20.8% in the 2nd quarter. Voya Investment Management LLC now owns 14,878 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 2,562 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in Moneygram International by 10.8% in the 2nd quarter. New York State Common Retirement Fund now owns 29,700 shares of the financial services provider’s stock valued at $512,000 after purchasing an additional 2,899 shares during the period. Institutional investors and hedge funds own 91.12% of the company’s stock.

WARNING: “Moneygram International, Inc. (MGI) Short Interest Down 24.5% in November” was posted by Daily Political and is the property of of Daily Political. If you are reading this story on another publication, it was illegally copied and republished in violation of U.S. and international copyright and trademark laws. The original version of this story can be viewed at https://www.dailypolitical.com/2017/11/30/moneygram-international-inc-mgi-short-interest-down-24-5-in-november.html.

About Moneygram International

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.

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