Financial Sector New Lows: Moneygram International (NASDAQ:MGI), Silver Bay Realty (NYSE:SBY), Square 1 Financial Inc (NASDAQ:SQBK), Starwood Waypoint Residential (NYSE:SWAY)



Walmart Stores Inc. is delving deeper into financial services at its stores and shaking up the money transfer business. The world’s largest retailer introduced a money transfer service Thursday that it says will cut fees for its low-income customers by up to 50 percent, compared with similar services elsewhere. Shares of MoneyGram International Inc. (NASDAQ:MGI) and Western Union Co. sank almost immediately after Thursday’s announcement. MoneyGram International Inc. (NASDAQ:MGI) closed the day down 17.7 percent, while Western Union lost nearly 5 percent. Moneygram International Inc (NASDAQ:MGI) stock performance was -17.68% in last session and finished the day at $14.81. Traded volume was 2.84million shares in the last session and the average volume of the stock remained 239.20K shares. The beta of the stock remained 1.85. Moneygram International Inc (NASDAQ:MGI) insider ownership is 2.30%.

Three house rental firms — American Residential Properties (ARPI), American Homes 4 Rent (AMH) and Silver Bay Realty Trust Corp (NYSE:SBY) — have raised $1.4 billion in initial public offerings since late 2012. In January, Starwood Property Trust (STWD) spun out Starwood Waypoint Residential (SWAY). All are publicly traded REITs that must distribute at least 90% of their income in dividends. Silver Bay Realty Trust Corp (NYSE:SBY) dropped -1.00 percent to $14.82 Thursday on volume of 313,336.00million shares. The intra-day range of the stock was $14.65 to $14.91. Silver Bay Realty Trust Corp (NYSE:SBY) has a market capitalization of $569.96million.

SpringCM CEO Greg Buchholz really, really wants you to know his company’s name. The “content cloud services” company based in Chicago today announced $18 million in new financing that it will use primary to rev up its sales and marketing engine. This new $18 million financing featured investments from Goff Capital and Square 1 Financial Inc (NASDAQ:SQBK) in addition to participation from existing investors. SpringCM’s total funding now stands at $61 million. Square 1 Financial Inc (NASDAQ:SQBK)’s stock on Apr 17, 2014 reported a decrease of -0.37% to the closing price of $18.96. Its fifty two weeks range is $18.20 -$20.70. The total market capitalization recorded $532.16million. The overall volume in the last trading session was 251,228.00million shares. In its share capital, SQBK has 28.07million outstanding shares.

The spinoff by STWD, the largest US commercial mortgage REIT ($29 billion of assets under management), of Starwood Waypoint Residential Trust (NYSE:SWAY) closed on Jan. 31, 2014. SWAY’s portfolio consists of a single family residential segment including approximately 7,200 units of single-family homes and residential non-performing mortgage loans. On Thursday, shares of Starwood Waypoint Residential Trust (NYSE:SWAY) dropped -0.27% to close the day at $25.78. Company return on investment (ROI) is -2.90% and its monthly performance is recorded as -7.13%.

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