Insider Bets Paying Off At MGI As New 52-Week High Reached

In trading on Monday, shares of MoneyGram International Inc (MGI) touched a new 52-week high of $10.13/share. That's a 116.45% rise, or $5.45 per share from the 52-week low of $4.68 set back on 02/11/2016. That means at today's intraday high, any investor who purchased MGI stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, MGI has seen 2 different instances of insiders buying over the trailing six month period.

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Purchased Insider Title Shares Price/Share Value
05/19/2016 W. Bruce Turner Director 5,944 $5.91 $35,109.80
08/03/2016 Michael P. Rafferty Director 1,500 $6.44 $9,660.00

The chart below shows where MGI has traded over the past year, with the 50-day and 200-day moving averages included.

MoneyGram International Inc Moving Averages Chart

In afternoon trading on Monday, MGI shares are changing hands at $9.81/share, slightly below the new 52-week high.

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