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

International Money Express, Inc. (NASDAQ:IMXI) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 1,050,000 shares, a decrease of 11.8% from the October 31st total of 1,190,000 shares. Approximately 3.8% of the company’s stock are short sold. Based on an average daily volume of 282,700 shares, the days-to-cover ratio is currently 3.7 days.

Institutional Trading of International Money Express

Several large investors have recently added to or reduced their stakes in IMXI. nVerses Capital LLC raised its stake in shares of International Money Express by 133.3% in the third quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock worth $39,000 after purchasing an additional 1,200 shares during the last quarter. CWM LLC increased its holdings in International Money Express by 201.7% in the 2nd quarter. CWM LLC now owns 3,394 shares of the company’s stock worth $71,000 after buying an additional 2,269 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in International Money Express during the 2nd quarter worth approximately $91,000. Quarry LP lifted its stake in International Money Express by 113.7% during the 2nd quarter. Quarry LP now owns 4,760 shares of the company’s stock valued at $99,000 after acquiring an additional 2,533 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in shares of International Money Express by 1,277.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 6,061 shares of the company’s stock valued at $126,000 after acquiring an additional 5,621 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IMXI. Monness Crespi & Hardt reduced their target price on shares of International Money Express from $30.00 to $28.00 and set a “buy” rating for the company in a report on Monday, November 4th. Oppenheimer began coverage on shares of International Money Express in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. BTIG Research reaffirmed a “neutral” rating on shares of International Money Express in a research report on Wednesday, August 7th. Needham & Company LLC raised their price objective 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. Finally, BMO Capital Markets upped their target price on International Money Express from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, International Money Express presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

International Money Express Price Performance

Shares of IMXI opened at $21.20 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.80 and a quick ratio of 1.80. The company’s fifty day moving average price is $18.98 and its 200-day moving average price is $19.44. International Money Express has a 1-year low of $16.17 and a 1-year high of $23.28. The firm has a market capitalization of $659.32 million, a PE ratio of 11.84 and a beta of 0.88.

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.