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Why MoneyGram International Inc. (NASDAQ: MGI) Stock Shouldn’t Be Ignored In 2023

In today’s recent session, 1.49 million shares of the MoneyGram International Inc. (NASDAQ:MGI) have been traded, and its beta is 1.01. Most recently the company’s share price was $10.97, and it changed around $0.02 or 0.20% from the last close, which brings the market valuation of the company to $1.07B. MGI at last check was trading at a discount to its 52-week high of $10.97, offering almost 0.0% off that amount. The share price’s 52-week low was $8.59, which indicates that the recent value has risen by an impressive 21.7% since then. We note from MoneyGram International Inc.’s average daily trading volume that its 10-day average is 2.38 million shares, with the 3-month average coming to 3.40 million.

MoneyGram International Inc. (NASDAQ:MGI) trade information

Instantly MGI has been showing a green trend so far today with a performance of 0.20% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 10.98 on Tuesday, 05/23/23 increased the stock’s daily price by 0.09%. The company’s shares are currently up 0.75% year-to-date, but still up 0.20% over the last five days. On the other hand, MoneyGram International Inc. (NASDAQ:MGI) is 9.61% up in the 30-day period. We can see from the shorts that 20.65 million shares have been sold at a short interest cover period of 6.23 day(s).

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MoneyGram International Inc. (MGI) estimates and forecasts

MoneyGram International Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 1.78 percent over the past six months and at a 34.62% annual growth rate that is well above the industry average of 1.70%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 44.40% in revenue this quarter, and will report an increase of 45.50% in the next quarter. The year-over-year growth rate is expected to be 6.20%, up from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $353.66 million in revenue for the current quarter. 1 analysts expect MoneyGram International Inc. to make $349.47 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $329.6 million and $330.8 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 7.30%. Forecasts for the next quarter put sales growth at 5.60%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 19.20%. MoneyGram International Inc. earnings are expected to increase by 180.90% in 2023, but the outlook is positive 19.50% per year for the next five years.

MGI Dividends

MoneyGram International Inc.’s next quarterly earnings report is expected to be released around May 04 and May 08.

MoneyGram International Inc. (NASDAQ:MGI)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 4.23% of MoneyGram International Inc. shares, and 91.61% of them are in the hands of institutional investors. The stock currently has a share float of 95.65%. MoneyGram International Inc. stock is held by 246 institutions, with Blackrock Inc. being the largest institutional investor. By Mar 30, 2023, it held 7.36% of the shares, which is about 7.19 million shares worth $74.94 million.

Nexpoint Asset Management, L.P., with 6.99% or 6.83 million shares worth $71.22 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Highland Fds I-NexPoint Merger Arbitrage Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 4.57 million shares worth $49.74 million, making up 4.73% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 2.62 million shares worth around $28.58 million, which represents about 2.72% of the total shares outstanding.

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