With 1.01 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.39 million shares. During the session, the Credit Services company that operates in wider Financial sector, reached to the highest price of $10.98 whereas the lowest price it dropped to was $10.97. The 52-week range on MGI shows that it touched its highest point at $10.98 and its lowest point at $8.59 during that stretch. It currently has a 1-year price target of $11.00. Beta for the stock currently stands at 1.01.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MGI was up-trending over the past week, with a rise of 0.09%, but this was up by 10.70% over a month. Three-month performance surged to 1.01% while six-month performance rose 1.86%. The stock gained 12.28% in the past year, while it has gained 0.73% so far this year. EPS is expected to grow by 19.50% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 19.20%.
Float and Shares Shorts:
At present, 97.20 million MGI shares are outstanding with a float of 89.28 million shares on hand for trading. On Apr 27, 2023, short shares totaled 20.65 million, which was 21.13% higher than short shares on Mar 30, 2023. In addition to Mr. W. Alexander Holmes as the firm’s Chairman & CEO, Mr. Brian Johnson C.F.A., CVA serves as its Chief Financial Officer.
Through their ownership of 91.61% of MGI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 67.25% of MGI, in contrast to 58.55% held by mutual funds. Shares owned by individuals account for 28.79%. As the largest shareholder in MGI with 7.07% of the stake, NexPoint Asset Management LP holds 6,834,683 shares worth 6,834,683. A second-largest stockholder of MGI, BlackRock Fund Advisors, holds 6,377,328 shares, controlling over 6.60% of the firm’s shares. Pentwater Capital Management LP is the third largest shareholder in MGI, holding 5,700,000 shares or 5.90% stake. With a 4.73% stake in MGI, the Highland Fds. I – NexPoint Merger is the largest stakeholder. A total of 4,567,853 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.79% of MGI stock, is the second-largest Mutual Fund holder. It holds 2,693,721 shares valued at 27.37 million. Merger Fund holds 2.48% of the stake in MGI, owning 2,393,861 shares worth 24.32 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, MGI reported revenue of $329.60M and operating income of $17.10M. The EBITDA in the recently reported quarter was $28.10M and diluted EPS was $0.03.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MGI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MGI analysts setting a high price target of $11.00 and a low target of $11.00, the average target price over the next 12 months is $11.00. Based on these targets, MGI could surge 0.27% to reach the target high and rise by 0.27% to reach the target low. Reaching the average price target will result in a growth of 0.27% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded MGI stock several times over the past three months with 0 Buys and 7 Sells. In these transactions, 0 shares were bought while 199,954 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has risen to 22 over the past year. The total number of shares bought during that period was 958,072 while 434,589 shares were sold.