International Money Express, Inc. (NASDAQ:IMXI) Short Interest Update

International Money Express, Inc. (NASDAQ:IMXI) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 1,290,000 shares, an increase of 13.2% from the September 30th total of 1,140,000 shares. Approximately 4.4% of the shares of the stock are short sold. Based on an average trading volume of 303,900 shares, the days-to-cover ratio is presently 4.2 days.

Analysts Set New Price Targets

IMXI has been the subject of several recent research reports. Oppenheimer initiated coverage on International Money Express in a report 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 report on Wednesday, August 7th. Northland Securities cut their price target on International Money Express from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Needham & Company LLC cut their price target on International Money Express from $25.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.40.

International Money Express Stock Performance

Shares of IMXI traded up $0.06 during midday trading on Thursday, reaching $17.59. 176,428 shares of the stock were exchanged, compared to its average volume of 248,288. The business’s 50-day moving average price is $18.00 and its 200 day moving average price is $19.53. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.88 and a quick ratio of 1.88. International Money Express has a twelve month low of $15.76 and a twelve month high of $23.28. The company has a market capitalization of $573.57 million, a price-to-earnings ratio of 10.49 and a beta of 0.81.

International Money Express (NASDAQ:IMXI) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). The company had revenue of $171.53 million during 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 business’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 EPS. On average, sell-side analysts expect that International Money Express will post 1.97 EPS for the current fiscal year.

Institutional Investors Weigh In On International Money Express

Several institutional investors have recently modified their holdings of IMXI. LSV Asset Management boosted its stake in shares of International Money Express by 3,421.5% during the 1st quarter. LSV Asset Management now owns 692,853 shares of the company’s stock worth $15,818,000 after acquiring an additional 673,178 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in 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 buying an additional 152,464 shares in the last quarter. Millennium Management LLC lifted its stake in International Money Express by 92.6% in the 2nd quarter. Millennium Management LLC now owns 191,691 shares of the company’s stock valued at $3,995,000 after buying an additional 92,154 shares in the last quarter. Samson Rock Capital LLP purchased a new stake in International Money Express in the 3rd quarter valued at approximately $1,276,000. Finally, Renaissance Technologies LLC lifted its stake in International Money Express by 83.8% in the 2nd quarter. Renaissance Technologies LLC now owns 130,700 shares of the company’s stock valued at $2,724,000 after buying an additional 59,600 shares in the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

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.