Zacks Investment Research lowered shares of Moneygram International (NASDAQ:MGI) from a buy rating to a hold rating in a research note published on Tuesday.

According to Zacks, “MoneyGram International’s stock has underperformed the industry in the last year. The company’s merger with Ant Financial is underway. The deal will enhance MoneyGram‘s competitive position in the fast-evolving payments’ industry. While on its own, the company has to continually invest in business to keep pace with its peers. Its union with a stable partner will make its journey easier. The company’s wide agent network, expansion of digital platform and widespread geographical presence are the other positives. However, MoneyGram faces headwinds in the form of volatile currencies, stiff rivalry, rising expenses from heightened regulation and compliance requirements.”

A number of other research firms have also recently commented on MGI. ValuEngine cut shares of Moneygram International from a buy rating to a hold rating in a research report on Monday, October 2nd. BidaskClub raised shares of Moneygram International from a strong sell rating to a sell rating in a research report on Saturday, September 30th. Northland Securities reissued a hold rating on shares of Moneygram International in a research report on Tuesday, September 5th. Finally, JPMorgan Chase & Co. cut shares of Moneygram International from a neutral rating to an underweight rating in a research report on Tuesday, December 12th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Moneygram International currently has a consensus rating of Hold and a consensus target price of $16.21.

Moneygram International (NASDAQ MGI) traded down $0.40 on Tuesday, reaching $11.71. 2,806,300 shares of the company’s stock traded hands, compared to its average volume of 4,139,033. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of -2.47. Moneygram International has a 12 month low of $11.26 and a 12 month high of $17.92. The stock has a market capitalization of $656.74, a P/E ratio of 26.02 and a beta of 1.92.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Moneygram International by 13.1% in the second quarter. Vanguard Group Inc. now owns 2,289,495 shares of the financial services provider’s stock valued at $39,494,000 after acquiring an additional 264,925 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Moneygram International by 32.8% in the second quarter. Renaissance Technologies LLC now owns 1,875,291 shares of the financial services provider’s stock valued at $32,349,000 after acquiring an additional 462,900 shares in the last quarter. State of Wisconsin Investment Board raised its holdings in Moneygram International by 190.7% in the third quarter. State of Wisconsin Investment Board now owns 1,527,444 shares of the financial services provider’s stock valued at $24,607,000 after acquiring an additional 1,001,944 shares in the last quarter. Sand Grove Capital Management LLP raised its holdings in Moneygram International by 5.6% in the third quarter. Sand Grove Capital Management LLP now owns 1,194,122 shares of the financial services provider’s stock valued at $19,273,000 after acquiring an additional 63,618 shares in the last quarter. Finally, JPMorgan Chase & Co. raised 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 worth $12,646,000 after purchasing an additional 723,422 shares during the period. 91.12% of the stock is currently owned by institutional investors and hedge funds.

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Moneygram International Company 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.

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