Ebix (NASDAQ:EBIX) changed 3.92% to recent value of $32.84. The stock transacted 303817 shares during most recent day however it has an average volume of 351.93K shares. It spotted trading -48.60% off 52-week high price. On the other end, the stock has been noted 5.73% away from the low price over the last 52-weeks.
On Jan. 13, 2020, EbixCash, a wholly-owned subsidiary of Ebix (NASDAQ:EBIX) a leading international supplier of On-Demand software and E-commerce services, together with MoneyGram International (NASDAQ: MGI), a global provider of innovative money transfer services, reported a strategic partnership to bring enhanced services to millions of consumers across India.
Details of the strategic partnership include:
- MoneyGram has appointed EbixCash as its exclusive partner in India
- MoneyGram will now be able to reach additional consumers through Ebix’s 320,000 distribution outlets spread across 768 districts, 4,000 cities, and more than 75,000 villages – significantly increasing coverage in rural areas
- EbixCash customers in these locations can now access the MoneyGram platform to quickly and conveniently receive money from family and friends around the world
- The strategic partnership aims to service inward remittance volumes of $3 billion annually by targeting remitters in key sending markets outside India
MoneyGram is focusing on diversification by investing in both its digital business and in key international markets such as India, said Alex Holmes, MoneyGram Chairman and Chief Executive Officer. Partnering with the largest financial exchange in the country is an important milestone, and we are excited to enable EbixCash to plug into the MoneyGram platform to access our customer-centric capabilities and services.
EBIX has a gross margin of 65.90% and an operating margin of 28.50% while its profit margin remained 14.60% for the last 12 months. Its earnings per share (EPS) expected to touch remained -2.50% for this year while earning per share for the next 5-years is expected to reach at 10.00%.
The company has 31.29M of outstanding shares and 26.10M shares were floated in the market. According to the most recent quarter its current ratio was 1.5 that represents company’s ability to meet its current financial obligations. The price moved ahead of -0.08% from the mean of 20 days, -6.25% from mean of 50 days SMA and performed -22.83% from mean of 200 days price. Company’s performance for the week was 0.52%, 0.98% for month and YTD performance remained -1.71%.