Every segment of the payments industry performed strongly on the stock market this week, as payments as whole gained 1.23 percent.
The industry was aided by strong performances from the prepaid and networks industries, which saw gains of 2.82 percent and 2.10 percent, respectively.
Green Dot led the prepaid group, rising 5.29 percent to $14.23 as the stock continues its climb after a strong earnings call two weeks ago. Some analysts, such as BTIG, are changing Green Dot’s rating to “buy” amid the stock’s rise. NetSpend Holdings had a strong week as well, jumping 1.76 percent to an even $11.00, further aiding the prepaid segment.
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American Express led networks with a 3.15 gain, jumping to $61.80 following an interesting public reveal of some of its international numbers. Discover also boosted the network industry, finishing a turbulent week on an upswing after Credit Suisse upgraded its status from “neutral” to “outperform.” Discover rose 2.78 percent to reach $39.88.
MasterCard also saw gains on the market this week, reaching $524.77 for a 1.11 percent gain. Visa was the lone network to regress, dropping -0.48 percent to $157.80 after its Q1 earnings.
The biggest individual winner of the week was MoneyGram International, whose stock rose 13.85 percent to $15.87 after a promising Q4 earnings report that saw a gain of $0.28 per share, compared to $0.04 per share a year earlier. The remittance industry as a whole gained 1.68 percent thanks to a nearly 2 percent jump from Western Union, as well.
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Global Cash Access Holdings had the worst performance on our index, dropping -6.23 percent after an unfavorable 2013 outlook announced on Wednesday.
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