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Moneygram International (MGI)

MoneyGram is a global leader in cross-border P2P payments and money transfers. Its consumer-centric capabilities enable family and friends to quickly and affordably send money in more than 200 countries and territories, with 90 now digitally enabled.

Company profile

Ticker
MGI
Exchange
CEO
W. Alexander Holmes
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
MIL Overseas Limited • MIL Overseas Nigeria Limited • Money Globe Payment Institution S.A. • MoneyGram Consulting (Shanghai) Co. Ltd. • MoneyGram GmbH • MoneyGram India Private Limited • MoneyGram International B.V. • MoneyGram International Holdings Limited • MoneyGram International Limited • MoneyGram International ...
IRS number
161690064

MGI stock data

Calendar

5 Aug 22
28 Sep 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
5 May 22 Antonio O Garza Common Stock Grant Acquire A No No 0 15,000 0 254,324
5 May 22 Alka Gupta Common Stock Grant Acquire A No No 0 15,000 0 44,484
5 May 22 Francisco Lorca Common Stock Grant Acquire A No No 0 15,000 0 53,403
5 May 22 Silcock Julie Common Stock Grant Acquire A No No 0 15,000 0 67,569
13F holders Current Prev Q Change
Total holders 179 195 -8.2%
Opened positions 29 61 -52.5%
Closed positions 45 54 -16.7%
Increased positions 59 46 +28.3%
Reduced positions 46 55 -16.4%
13F shares Current Prev Q Change
Total value 899.17M 821.79M +9.4%
Total shares 111.84M 100.1M +11.7%
Total puts 297.3K 666.9K -55.4%
Total calls 1.98M 2.7M -26.7%
Total put/call ratio 0.2 0.2 -39.2%
Largest owners Shares Value Change
Thomas H. Lee Advisors 23.74M $50.32M 0.0%
Sand Grove Capital Management 6.97M $69.68M +106.6%
BLK Blackrock 6.31M $63.11M +3.7%
Pentwater Capital Management 5.86M $58.55M +615.6%
Vanguard 4.4M $43.97M +4.4%
Ripple Labs 3.22M $0 0.0%
EVR Research 2.94M $29.43M +29.8%
Millennium Management 2.9M $29.01M -35.2%
Westchester Capital Management 2.8M $28.04M +84.8%
Omni Event Management 2.42M $24.16M NEW
Largest transactions Shares Bought/sold Change
Pentwater Capital Management 5.86M +5.04M +615.6%
Sand Grove Capital Management 6.97M +3.59M +106.6%
Omni Event Management 2.42M +2.42M NEW
Glazer Capital 0 -2.19M EXIT
Marshall Wace 1.63M +1.63M NEW
Millennium Management 2.9M -1.58M -35.2%
Tibra Equities Europe 0 -1.54M EXIT
Westchester Capital Management 2.8M +1.29M +84.8%
BCS Barclays 1.29M +982.21K +324.4%
Steamboat Capital Partners 962.37K +962.37K NEW

Financial report summary

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Risks
  • The announcement and pendency of the Merger could adversely affect our business, financial condition and results of operations.
  • The proposed Merger may not be completed within the timeframe we anticipate or at all, and the failure to complete or delays in completing the Merger could adversely affect our business, financial results and stock price.
  • The COVID-19 outbreak, declared a pandemic by the World Health Organization, is ongoing both in the United States and globally and has adversely affected and may continue to materially adversely affect, our business operations, financial condition, liquidity and cash flow. The extent to which the COVID-19 pandemic will further impact our business depends on future developments, which are highly uncertain and difficult to predict.
  • We face intense competition, and if we are unable to continue to compete effectively for any reason, including due to our enhanced compliance controls, our business, financial condition and results of operations could be adversely affected.
  • If we lose key agents, our business with such agents is reduced or we are unable to maintain our agent network under terms consistent with those currently in place, including due to increased costs or loss of business as a result of higher compliance standards, our business, financial condition and results of operations could be adversely affected.
  • Complex and evolving U.S. and international laws and regulation regarding privacy and data protection could result in claims, changes to our business practices, penalties, increased cost of operations or otherwise harm our business.
  • A breach of security in the systems on which we rely could adversely affect our business, financial condition and results of operations.
  • Cybersecurity threats continue to increase in frequency and sophistication; a successful cybersecurity attack could interrupt or disrupt our information technology systems or cause the loss of confidential or protected data which could disrupt our business, force us to incur excessive costs or cause reputational harm.
  • Consumer fraud could adversely affect our business, financial condition and results of operations.
  • MoneyGram is subject to compliance with U.S. anti-money laundering laws, the Bank Secrecy Act, the Dodd-Frank Act, FCPA, PSD2 and numerous international laws and regulations. Failure to comply with these laws could result in material settlements, fines, penalties and increased operating costs, all of which may adversely affect our business, financial condition and results of operations.
  • Violation of laws or regulations by our agents could adversely affect our business, financial condition and results of operations.
  • We are subject to the discretion of administrative enforcement agencies.
  • Litigation or investigations involving us, our agents or other contractual counterparties could result in material settlements, fines or penalties and may adversely affect our business, financial condition and results of operations.
  • If we fail to successfully develop and timely introduce new and enhanced products and services or if we make substantial investments in an unsuccessful new product, service or infrastructure change, our business, financial condition and results of operations could be adversely affected.
  • We have outstanding indebtedness in the form of Senior Secured Notes and a credit facility and may incur other debt in the future, which may adversely affect our financial condition and future financial results.
  • We may be adversely affected by the potential discontinuation of LIBOR.
  • Weakness in economic conditions could adversely affect our business, financial condition and results of operations.
  • A significant change or disruption in international migration patterns could adversely affect our business, financial condition and results of operations.
  • There are a number of risks associated with our international sales and operations that could adversely affect our business.
  • Because our business is particularly dependent on the efficient and uninterrupted operation of our information technology, computer network systems and data centers, disruptions to these systems and data centers could adversely affect our business, financial condition and results of operations.
  • We conduct money transfer transactions in some regions that are politically volatile and economically unstable, which could increase our cost of operating in those regions.
  • Major bank failure or sustained financial market illiquidity, or illiquidity at our clearing, cash management and custodial financial institutions, could adversely affect our business, financial condition and results of operations.
  • An inability by us or our agents to maintain adequate banking relationships may adversely affect our business, financial condition and results of operations.
  • Changes in tax laws and unfavorable outcomes of tax positions we take could adversely affect our tax expense and liquidity.
  • We face credit risks from our agents and financial institutions with which we do business.
  • If we are unable to adequately protect our brand and the intellectual property rights related to our existing and any new or enhanced products and services, or if we infringe on the rights of others, our business, prospects, financial condition and results of operations could be adversely affected.
  • Failure to attract and retain key employees could have a material adverse impact on our business.
  • Any restructuring activities and cost reduction initiatives that we undertake may not deliver the expected results and these actions may adversely affect our business operations.
  • Failure to maintain effective internal controls in accordance with Section 404 of the Sarbanes-Oxley Act could have a material adverse effect on our business.
  • Our charter and Delaware law contain provisions that could delay or prevent an acquisition of the Company, which could inhibit your ability to receive a premium on your investment from a possible sale of the Company.
  • Our amended and restated bylaws provide that unless the Company consents in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware shall, to the fullest extent permitted by law, be the sole and exclusive forum for certain types of lawsuits, which could limit our stockholders’ ability to obtain their preferred judicial forum for disputes with us or our directors, officers, or employees.
  • Our Board of Directors has the power to issue series of preferred stock and to designate the rights and preferences of those series, which could adversely affect the voting power, dividend, liquidation and other rights of holders of our common stock.
  • The market price of our common stock may be volatile.
  • Investors in our common stock may be subject to state money transmitter change of control notice and approval requirements if their aggregate ownership equals or exceeds 10% of our outstanding voting or non-voting shares.
Management Discussion
  • Revenue remained relatively flat for the three months ended June 30, 2022 and revenue declined by $2.2 million for the six months ended June 30, 2022, due to a decrease in GFT revenue of $5.8 million, partially offset by an increase in FPP revenue of $3.6 million. See the "Segments Results" section below for further discussions.
  • Cost of revenue decreased by $5.0 million for the three months ended June 30, 2022, due to a decrease in GFT cost of revenue of $7.3 million offset by an increase in FPP investment commissions expense of $2.3 million. Cost of revenue decreased by $8.9 million for the six months ended June 30, 2022, due to a decrease in GFT cost of revenue of $11.4 million offset by an increase in FPP investment commissions expense of $2.5 million. See the "Segments Results" section below for further discussions.
  • Compensation and benefits remained relatively flat for the three months ended June 30, 2022, and decreased by $5.4 million for the six months ended June 30, 2022, primarily due to the absence of severance costs in the current period.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: annum, care, discretionary, escalate, Europe, expedited, faster, floor, LLC, notification, premerger, reserve, shortly, surviving, track
Removed: accounted, Amendment, assume, constant, conversely, disclose, extension, mandatory, prepaid, prosecution, responded

Patents

Utility
Communication Network for Distributing Due Diligence Requests Between a Central Server and a Compliance Device
14 Jul 22
A method includes receiving a request for a money transfer transaction.
Utility
Systems and Methods for Distributing Personally Identifiable Information Across Geographic Boundaries
28 Apr 22
Systems, methods, and computer-readable storage media configured to facilitate execution of transactions via a money transfer network are disclosed.
Utility
Rules Engine and Method for Evaluating a Plurality of Cryptocurrencies
28 Apr 22
A system and method is disclosed for evaluating a plurality of cryptocurrencies, the method comprising monitoring and storing volatility data for a plurality of cryptocurrency exchanges; analyzing the stored volatility data to generate one or more risk forecasts indicating risks associated with purchasing cryptocurrency through each of the cryptocurrency exchanges; determining a number of transaction factors for purchasing cryptocurrencies and selecting a cryptocurrency based on the transaction factors.
Utility
Method and apparatus for customer notification system
22 Mar 22
A method for beacon device-based customer notifications is provided.
Utility
Smart Stager
23 Dec 21
Embodiments of the present disclosure provide a money transfer network system that improves the performance of money transfer services provided via the money transfer network system and improves the performance of the underlying devices utilized to provide money transfer services.