Short Interest in International Money Express, Inc. (NASDAQ:IMXI) Expands By 7.9%

International Money Express, Inc. (NASDAQ:IMXI) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 637,400 shares, a growth of 7.9% from the May 31st total of 590,900 shares. Currently, 2.2% of the company’s stock are short sold. Based on an average daily volume of 206,400 shares, the days-to-cover ratio is currently 3.1 days.

Institutional Investors Weigh In On International Money Express

A number of hedge funds and other institutional investors have recently made changes to their positions in IMXI. Vanguard Group Inc. increased its holdings in International Money Express by 10.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,163,976 shares of the company’s stock valued at $36,636,000 after buying an additional 205,954 shares during the period. Voss Capital LLC lifted its stake in shares of International Money Express by 22.9% in the 4th quarter. Voss Capital LLC now owns 1,680,047 shares of the company’s stock valued at $37,112,000 after acquiring an additional 313,135 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of International Money Express by 9.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,651,169 shares of the company’s stock valued at $27,954,000 after acquiring an additional 138,002 shares in the last quarter. Investment Management Associates Inc. ADV grew its holdings in shares of International Money Express by 15.0% during the fourth quarter. Investment Management Associates Inc. ADV now owns 881,693 shares of the company’s stock worth $19,477,000 after purchasing an additional 115,294 shares during the last quarter. Finally, LSV Asset Management increased its stake in shares of International Money Express by 3,421.5% in the first quarter. LSV Asset Management now owns 692,853 shares of the company’s stock valued at $15,818,000 after buying an additional 673,178 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on IMXI shares. Monness Crespi & Hardt assumed coverage on International Money Express in a report on Wednesday, March 20th. They issued a “buy” rating and a $27.00 price objective for the company. BMO Capital Markets lifted their price objective on shares of International Money Express from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 target price on shares of International Money Express in a report on Thursday, May 9th. Finally, BTIG Research assumed coverage on shares of International Money Express in a research note on Monday, June 3rd. They issued a “buy” rating and a $25.00 target price for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, International Money Express currently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

International Money Express Stock Performance

International Money Express stock traded up $0.16 during trading hours on Wednesday, hitting $20.54. The company had a trading volume of 28,623 shares, compared to its average volume of 225,825. The firm has a 50-day moving average of $20.71 and a 200 day moving average of $21.10. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.68 and a quick ratio of 1.68. The firm has a market cap of $670.43 million, a PE ratio of 12.41 and a beta of 0.84. International Money Express has a one year low of $15.76 and a one year high of $26.25.

International Money Express (NASDAQ:IMXI) last announced its earnings results on Wednesday, May 8th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The company had revenue of $150.41 million for the quarter, compared to analyst estimates of $150.60 million. International Money Express had a return on equity of 43.75% and a net margin of 9.02%. On average, sell-side analysts expect that International Money Express will post 2.04 earnings per share for the current year.

About International Money Express

International Money Express, Inc, together with its subsidiaries, operates as an omnichannel money remittance services company in the United States, Latin America, Mexico, Central and South America, the Caribbean, Africa, and Asia. The company offers remittance services, which include a suite of ancillary financial processing solutions and payment services; and online payment options, pre-paid debit cards, and direct deposit payroll cards.