Is MoneyGram International a Buy?
Long before the Cash App and Venmo came along, MoneyGram International (NASDAQ: MGI) was one of the leaders in money transfers. You've probably used it before at your supermarket or convenience store to send money to someone, for a fee, without using a bank.
Over the past 20 years, the company's market share and stock price have steadily plummeted for many reasons. It was slow to adapt to online money transfers, and then it got crushed in the financial crisis of 2007-2008 as it lost billions in risky mortgage-backed securities when the housing bubble burst. That led to a management shake-up and tons of debt, which the company has been trying to dig out from ever since.
In the past few years, the company has been slowly rebuilding and adapting to the new mobile era of money transfers. Where does it stand now? Let's take a look.
Source Fool.com
