Moneygram International Inc (Nasdaq:MGI) Dips To New 52 Week Low

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Moneygram International Inc (Nasdaq:MGI)

December 6th, 2018
Moneygram International Inc finished Thursday’s trading session down 1.44%, a $0.03 decrease to close on $2.05. As well as the drop in value, Moneygram International Inc hit a new 52 week low of $2.00, breaking the previous low of $2.02 from earlier this July. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be -0.08.

MGI was outperformed by the rest of the Information Technology sector which went up 0.23%.

Market Sectors

The market sectors were mixed Thursday with a majority of the sectors trending down. Real Estate saw the biggest increase of the day (2.66%), while Energy saw the biggest drop (1.77%). Healthcare has seen the biggest year-to-date gain at 12%. The biggest loss this year has been the Materials sector falling 12%.

Communication Services saw the biggest turnaround from its 5-day performance of -1.28%, as it went up 1.04%. Utilities saw a turn around from its 5-day performance of 2.33% trading down 0.10%.

Sector Breakdown

  • Real Estate went up with a 2.66% change.
  • Communication Services went up with a 1.04% change.
  • Consumer Discretionary went up with a 0.61% change.
  • Information Technology went up with a 0.23% change.
  • Utilities went down with a -0.10% change.
  • Consumer Staples went down with a -0.10% change.
  • Healthcare went down with a -0.31% change.
  • Industrials went down with a -0.55% change.
  • Materials went down with a -1.36% change.
  • Financials went down with a -1.44% change.
  • Energy went down with a -1.77% change.

MoneyGram is based in Dallas. MoneyGram was founded in 1940.

Moneygram International Inc Info

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. The Financial Paper Products segment provides money orders to consumers through its agents and financial institutions; and official check outsourcing services for financial institutions. This segment sells its money orders under the MoneyGram brand and on a private label or co-branded basis with retail and financial institution. The company also offers digital solutions, such as moneygram.com, mobile solutions, account deposit, and kiosk-based services. MoneyGram International, Inc. was founded in 1926 and is based in Dallas, Texas.

All amounts in USD unless otherwise indicated

(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Moneygram International Inc’s score is -0.08) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.

MGI daily update

MGI daily update
MGI daily update

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