International Money Express (NASDAQ:IMXI) Shares Gap Up – What’s Next?

Shares of International Money Express, Inc. (NASDAQ:IMXI) gapped up prior to trading on Friday . The stock had previously closed at $18.50, but opened at $20.07. International Money Express shares last traded at $20.74, with a volume of 36,883 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on IMXI shares. Monness Crespi & Hardt decreased their target price on shares of International Money Express from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday. Oppenheimer assumed coverage on International Money Express in a report on Tuesday, October 1st. They issued a “market perform” rating for the company. Needham & Company LLC reduced their target price on International Money Express from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. BTIG Research reiterated a “neutral” rating on shares of International Money Express in a research note on Wednesday, August 7th. Finally, Northland Securities dropped their target price on shares of International Money Express from $24.00 to $23.00 and set an “outperform” rating for the company 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.60.

International Money Express Price Performance

The company has a debt-to-equity ratio of 1.57, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market cap of $684.48 million, a price-to-earnings ratio of 11.08 and a beta of 0.82. The business’s 50-day simple moving average is $18.03 and its two-hundred day simple moving average is $19.40.

International Money Express (NASDAQ:IMXI) last issued its quarterly earnings data 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 business had revenue of $171.53 million during the quarter, compared to the consensus estimate of $174.89 million. International Money Express had a net margin of 8.78% and a return on equity of 43.97%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.46 EPS. Research analysts expect that International Money Express, Inc. will post 1.97 earnings per share for the current year.

Institutional Trading of International Money Express

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers raised its stake in International Money Express by 1.0% during the second quarter. Rhumbline Advisers now owns 45,877 shares of the company’s stock worth $956,000 after buying an additional 452 shares during the last quarter. nVerses Capital LLC increased its holdings in 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 in the last quarter. Foyston Gordon & Payne Inc lifted its stake in International Money Express by 8.2% in the second quarter. Foyston Gordon & Payne Inc now owns 21,798 shares of the company’s stock valued at $454,000 after buying an additional 1,658 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of International Money Express by 41.5% during the 1st quarter. Lazard Asset Management LLC now owns 6,319 shares of the company’s stock worth $143,000 after buying an additional 1,853 shares in the last quarter. Finally, Riverwater Partners LLC grew its position in shares of International Money Express by 14.9% during the 2nd quarter. Riverwater Partners LLC now owns 14,833 shares of the company’s stock worth $309,000 after buying an additional 1,926 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.

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.