International Money Express (NASDAQ:IMXI) Earns Buy Rating from Northland Securities

Northland Securities restated their buy rating on shares of International Money Express (NASDAQ:IMXI) in a research note published on Tuesday morning, AnalystRatings.com reports. The brokerage currently has a $17.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut International Money Express from a buy rating to a hold rating in a report on Saturday, October 26th. ValuEngine cut International Money Express from a hold rating to a sell rating in a report on Wednesday, October 2nd. BTIG Research restated a buy rating and issued a $20.00 price target on shares of International Money Express in a report on Monday, August 12th. Finally, KeyCorp started coverage on International Money Express in a report on Friday, October 18th. They issued a sector weight rating on the stock. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $17.50.

Shares of NASDAQ:IMXI traded down $0.17 on Tuesday, hitting $13.17. 243,300 shares of the company’s stock were exchanged, compared to its average volume of 175,877. The company has a market capitalization of $530.62 million, a PE ratio of -263.40 and a beta of -0.20. The firm’s 50-day moving average is $14.32 and its 200 day moving average is $13.83. International Money Express has a 1-year low of $10.31 and a 1-year high of $16.10. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.71 and a current ratio of 1.57.

In related news, major shareholder William Velez sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $11.96, for a total value of $95,680.00. Also, Director John Rincon sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $11.96, for a total value of $1,196,000.00. In the last 90 days, insiders sold 124,508 shares of company stock worth $1,502,157. Insiders own 43.10% of the company’s stock.

Large investors have recently made changes to their positions in the business. Huntington National Bank acquired a new stake in International Money Express during the 3rd quarter valued at $27,000. Strs Ohio acquired a new stake in International Money Express during the 2nd quarter valued at $49,000. Walleye Trading Advisors LLC acquired a new stake in International Money Express during the 2nd quarter valued at $158,000. Walleye Trading LLC acquired a new stake in International Money Express during the 2nd quarter valued at $182,000. Finally, Wells Fargo & Company MN grew its holdings in International Money Express by 12.2% during the 2nd quarter. Wells Fargo & Company MN now owns 13,640 shares of the company’s stock valued at $192,000 after buying an additional 1,484 shares during the last quarter. Hedge funds and other institutional investors own 39.35% of the company’s stock.

About International Money Express

International Money Express, Inc, through its subsidiary, operates as a money remittance services company in the United States, Latin America, Mexico, Central and South America, and the Caribbean. The company offers remittance services, including a suite of ancillary financial processing solutions and payment services.

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Analyst Recommendations for International Money Express (NASDAQ:IMXI)

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