International Money Express, Inc. (NASDAQ:IMXI) Sees Large Decline in Short Interest

International Money Express, Inc. (NASDAQ:IMXI) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 1,190,000 shares, a decrease of 7.8% from the October 15th total of 1,290,000 shares. Approximately 4.1% of the shares of the company are short sold. Based on an average daily volume of 282,700 shares, the short-interest ratio is currently 4.2 days.

Wall Street Analysts Forecast Growth

IMXI has been the subject of a number of recent research reports. Needham & Company LLC raised their target price on International Money Express from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. BTIG Research reissued a “neutral” rating on shares of International Money Express in a report on Wednesday, August 7th. Oppenheimer started coverage on shares of International Money Express in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. Northland Securities lifted their target price on shares of International Money Express from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, BMO Capital Markets upped their price target on shares of International Money Express from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $27.00.

International Money Express Trading Down 1.6 %

Shares of International Money Express stock opened at $20.87 on Monday. The company’s 50-day moving average price is $18.42 and its 200-day moving average price is $19.39. The company has a current ratio of 1.80, a quick ratio of 1.88 and a debt-to-equity ratio of 1.12. International Money Express has a 12-month low of $16.17 and a 12-month high of $23.28. The company has a market cap of $649.06 million, a price-to-earnings ratio of 11.66 and a beta of 0.82.

Institutional Trading of International Money Express

Institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of International Money Express by 7.5% in the third quarter. Wellington Management Group LLP now owns 1,556,925 shares of the company’s stock worth $28,788,000 after purchasing an additional 109,293 shares during the period. ArrowMark Colorado Holdings LLC grew its position in International Money Express by 17.2% during the third quarter. ArrowMark Colorado Holdings LLC now owns 994,925 shares of the company’s stock worth $18,396,000 after buying an additional 145,686 shares in the last quarter. New South Capital Management Inc. bought a new position in International Money Express in the 3rd quarter worth about $17,055,000. LSV Asset Management raised its holdings in shares of International Money Express by 5.2% in the 2nd quarter. LSV Asset Management now owns 728,977 shares of the company’s stock valued at $15,192,000 after acquiring an additional 36,124 shares in the last quarter. Finally, Royce & Associates LP boosted its position in shares of International Money Express by 9.8% during the 3rd quarter. Royce & Associates LP now owns 557,189 shares of the company’s stock valued at $10,302,000 after acquiring an additional 49,582 shares during the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

International Money Express Company Profile

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.