Moneygram International Inc (NASDAQ:MGI) shares rose 6.5% on Wednesday . The company traded as high as $5.92 and last traded at $6.03, approximately 167,791 shares traded hands during trading. A decline of 91% from the average daily volume of 1,803,012 shares. The stock had previously closed at $5.66.

Several research firms recently weighed in on MGI. Northland Securities restated a “buy” rating and set a $7.00 price target on shares of Moneygram International in a report on Thursday, September 5th. ValuEngine lowered shares of Moneygram International from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Zacks Investment Research cut shares of Moneygram International from a “strong-buy” rating to a “hold” rating and set a $3.50 target price on the stock. in a research report on Thursday, August 8th. Finally, Barclays boosted their target price on Moneygram International from $2.00 to $3.50 and gave the stock an “underweight” rating in a research note on Monday. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $4.67.

The stock has a market capitalization of $330.11 million, a PE ratio of 14.28 and a beta of 2.74. The firm has a 50-day moving average price of $3.49 and a 200-day moving average price of $2.56.

Moneygram International (NASDAQ:MGI) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.08. The company had revenue of $323.80 million for the quarter, compared to the consensus estimate of $342.31 million. Moneygram International had a negative net margin of 5.56% and a negative return on equity of 3.29%. On average, analysts anticipate that Moneygram International Inc will post 0.09 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of MGI. Acadian Asset Management LLC lifted its holdings in Moneygram International by 29.7% during the 1st quarter. Acadian Asset Management LLC now owns 977,248 shares of the financial services provider’s stock worth $1,993,000 after purchasing an additional 223,653 shares in the last quarter. Teton Advisors Inc. increased its holdings in shares of Moneygram International by 3.8% in the second quarter. Teton Advisors Inc. now owns 581,500 shares of the financial services provider’s stock worth $1,436,000 after purchasing an additional 21,500 shares during the period. Gabelli Funds LLC increased its holdings in shares of Moneygram International by 4.5% in the first quarter. Gabelli Funds LLC now owns 562,695 shares of the financial services provider’s stock worth $1,148,000 after purchasing an additional 24,297 shares during the period. ETF Managers Group LLC raised its position in shares of Moneygram International by 5.6% in the first quarter. ETF Managers Group LLC now owns 363,425 shares of the financial services provider’s stock worth $741,000 after buying an additional 19,334 shares in the last quarter. Finally, Spark Investment Management LLC raised its position in shares of Moneygram International by 5.2% in the first quarter. Spark Investment Management LLC now owns 320,708 shares of the financial services provider’s stock worth $654,000 after buying an additional 15,808 shares in the last quarter. Institutional investors own 62.26% of the company’s stock.

About Moneygram International (NASDAQ:MGI)

MoneyGram International, Inc, together with its subsidiaries, provides 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 primarily to unbanked and underbanked consumers.

Read More: Cost of Capital

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.