International Money Express, Inc. (NASDAQ:IMXI) Sees Significant Growth in Short Interest

International Money Express, Inc. (NASDAQ:IMXI) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,010,000 shares, an increase of 19.2% from the August 15th total of 847,400 shares. Approximately 3.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 301,100 shares, the days-to-cover ratio is presently 3.4 days.

International Money Express Stock Up 0.7 %

Shares of NASDAQ:IMXI traded up $0.14 during trading on Tuesday, reaching $18.86. 264,417 shares of the company traded hands, compared to its average volume of 254,196. The firm has a fifty day simple moving average of $18.99 and a 200 day simple moving average of $20.32. The firm has a market cap of $615.59 million, a P/E ratio of 11.21 and a beta of 0.82. International Money Express has a 1-year low of $15.76 and a 1-year high of $23.28. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 1.57.

International Money Express (NASDAQ:IMXI) last issued its earnings results on Wednesday, August 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The company had revenue of $171.53 million for the quarter, compared to analyst estimates of $174.89 million. International Money Express had a net margin of 8.78% and a return on equity of 43.97%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the business earned $0.46 EPS. Analysts anticipate that International Money Express will post 1.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on IMXI shares. Needham & Company LLC decreased their price target on shares of International Money Express from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. BTIG Research reiterated a “neutral” rating on shares of International Money Express in a research report on Wednesday, August 7th. Finally, Northland Securities lowered their price objective on shares of International Money Express from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.17.

Institutional Investors Weigh In On International Money Express

A number of institutional investors have recently modified their holdings of the stock. LSV Asset Management lifted its stake in shares of International Money Express by 3,421.5% in the 1st quarter. LSV Asset Management now owns 692,853 shares of the company’s stock valued at $15,818,000 after purchasing an additional 673,178 shares during the last quarter. Breach Inlet Capital Management LLC acquired a new stake in shares of International Money Express in the 4th quarter valued at $9,736,000. Hillsdale Investment Management Inc. acquired a new stake in shares of International Money Express in the 4th quarter valued at $4,009,000. First Eagle Investment Management LLC lifted its stake in shares of International Money Express by 46.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 477,273 shares of the company’s stock valued at $9,946,000 after purchasing an additional 152,464 shares during the last quarter. Finally, Investment Management Associates Inc. ADV lifted its stake in shares of International Money Express by 15.0% in the 4th quarter. Investment Management Associates Inc. ADV now owns 881,693 shares of the company’s stock valued at $19,477,000 after purchasing an additional 115,294 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

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.