MoneyGram International Inc. [NASDAQ: MGI] loss -8.72% on the last trading session, reaching $10.15 price per share at the time. The company report on June 7, 2021 that MoneyGram Announces $100,000,000 At-The-Market Equity Offering Program.
MoneyGram International, Inc. (NASDAQ: MGI) (“MoneyGram” or the “Company”) announced that it has established an “at-the-market” equity offering program (the “ATM Program”) under which it may offer and sell, from time to time, shares of its common stock (the “Shares”) having an aggregate sales price of up to $100 million, and has entered into an ATM Equity OfferingSM Sales Agreement (the “Sales Agreement”) with BofA Securities, Inc. (“BofA”), as sales agent.
Upon delivery of an issuance notice and subject to the terms and conditions of the Sales Agreement, BofA will use commercially reasonable efforts, consistent with its normal trading and sales practices and applicable law and regulations, to sell the Shares from time to time based upon MoneyGram’s instructions for the sales, including price, time and size limits specified by the Company. Pursuant to the Sales Agreement, sales of the Shares may be made by any method permitted by law and deemed to be an “at the market” offering as defined in Rule 415 of the Securities Act of 1933, as amended, including block trades, ordinary brokers’ transactions on Nasdaq or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, or by any other method permitted by law. Under the terms of the Sales Agreement, MoneyGram may also sell Shares to BofA as principal for its own account, at a price to be agreed upon at the time of sale.
MoneyGram International Inc. represents 79.60 million in outstanding shares, while the company has a total market value of $818.09 million with the latest information. MGI stock price has been found in the range of $9.91 to $10.86.
If compared to the average trading volume of 2.46M shares, MGI reached a trading volume of 3699613 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about MoneyGram International Inc. [MGI]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MGI shares is $7.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MGI stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for MoneyGram International Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 10, 2021. The new note on the price target was released on January 11, 2021, representing the official price target for MoneyGram International Inc. stock. Previously, the target price had yet another raise to $3, while Evercore ISI analysts kept a In-line rating on MGI stock. On March 24, 2020, analysts decreased their price target for MGI shares from 3.50 to 1.
The Average True Range (ATR) for MoneyGram International Inc. is set at 0.74, with the Price to Sales ratio for MGI stock in the period of the last 12 months amounting to 0.66. Price to Free Cash Flow for MGI in the course of the last twelve months was 14.90.
Trading performance analysis for MGI stock
MoneyGram International Inc. [MGI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.57. With this latest performance, MGI shares gained by 55.20% in over the last four-week period, additionally plugging by 55.20% over the last 6 months – not to mention a rise of 204.80% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MGI stock in for the last two-week period is set at 63.41, with the RSI for the last a single of trading hit 61.15, and the three-weeks RSI is set at 62.82 for MoneyGram International Inc. [MGI]. The present Moving Average for the last 50 days of trading for this stock 7.71, while it was recorded at 10.65 for the last single week of trading, and 6.26 for the last 200 days.
MoneyGram International Inc. [MGI]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and MoneyGram International Inc. [MGI] shares currently have an operating margin of +6.42 and a Gross Margin at +41.06. MoneyGram International Inc.’s Net Margin is presently recorded at -0.65.
Return on Total Capital for MGI is now 11.62, given the latest momentum, and Return on Invested Capital for the company is -1.35. Additionally, MGI Total Debt to Total Capital is recorded at 134.86, with Total Debt to Total Assets ending up at 19.62.
Reflecting on the efficiency of the workforce at the company, MoneyGram International Inc. [MGI] managed to generate an average of -$3,482 per employee. Receivables Turnover for the company is 120.51 with a Total Asset Turnover recorded at a value of 0.27.
MoneyGram International Inc. [MGI]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, MoneyGram International Inc. posted 0.01/share EPS, while the average EPS was predicted by analysts to be reported at -0.06/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 116.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MGI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for MoneyGram International Inc. go to 8.50%.
An analysis of insider ownership at MoneyGram International Inc. [MGI]
There are presently around $413 million, or 51.50% of MGI stock, in the hands of institutional investors. The top three institutional holders of MGI stocks are: BLACKROCK INC. with ownership of 3,368,719, which is approximately -0.794% of the company’s market cap and around 6.90% of the total institutional ownership; VANGUARD GROUP INC, holding 2,971,401 shares of the stock with an approximate value of $30.16 million in MGI stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $28.05 million in MGI stock with ownership of nearly 378.623% of the company’s market capitalization.
Positions in MoneyGram International Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 65 institutional holders increased their position in MoneyGram International Inc. [NASDAQ:MGI] by around 12,647,284 shares. Additionally, 65 investors decreased positions by around 9,006,676 shares, while 19 investors held positions by with 19,078,060 shares. The mentioned changes placed institutional holdings at 40,732,020 shares, according to the latest SEC report filing. MGI stock had 29 new institutional investments in for a total of 5,482,991 shares, while 22 institutional investors sold positions of 1,715,218 shares during the same period.