5 Stocks to Invest In Now According to Viraj Mehta’s Arctis Global

3. MoneyGram International, Inc. (NASDAQ:MGI)

Arctis Global’s Stake Value: $29,222,000
Percentage of Arctis Global’s 13F Portfolio: 10.94%
Number of Hedge Fund Holders: 24

MoneyGram International, Inc. (NASDAQ:MGI) is a global financial services provider specializing in international money transfers, bill payment services, and money orders. In the fourth quarter of 2021, 24 hedge funds were bullish on MoneyGram International, Inc. (NASDAQ:MGI), up from 23 funds in the third quarter.

Northland analyst Mike Grondahl downgraded MoneyGram International, Inc. (NASDAQ:MGI) from Outperform to Market Perform on March 22 and lowered his price objective of $11 from $12.25. MoneyGram International, Inc. (NASDAQ:MGI) announced a formal agreement on February 15 under which Madison Dearborn Partners-affiliated funds will purchase all outstanding shares for $11 per share in an all-cash transaction scheduled to complete in Q4.

Viraj Mehta’s Arctis Global is a prominent shareholder of MoneyGram International, Inc. (NASDAQ:MGI) in Q4 2021, with 3.70 million shares worth $29.22 million. The fund first bought a stake in MoneyGram International, Inc. (NASDAQ:MGI) in the second quarter of 2021.