International Money Express Inc (NASDAQ:IMXI) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 1,520,000 shares, an increase of 52.0% from the September 15th total of 1,000,000 shares. Currently, 7.2% of the company’s stock are short sold. Based on an average daily volume of 237,500 shares, the days-to-cover ratio is currently 6.4 days.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of International Money Express from a “buy” rating to a “hold” rating in a report on Saturday. Northland Securities set a $17.00 price objective on shares of International Money Express and gave the stock a “buy” rating in a report on Wednesday, September 4th. BTIG Research reiterated a “buy” rating and issued a $20.00 price objective on shares of International Money Express in a report on Monday, August 12th. KeyCorp assumed coverage on shares of International Money Express in a report on Friday, October 18th. They issued a “sector weight” rating for the company. Finally, ValuEngine cut shares of International Money Express from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. International Money Express has a consensus rating of “Buy” and an average target price of $16.75.
IMXI stock traded up $0.09 during mid-day trading on Monday, reaching $14.63. 214,700 shares of the stock traded hands, compared to its average volume of 150,998. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.81. International Money Express has a 52 week low of $10.31 and a 52 week high of $15.11. The business has a 50-day moving average of $13.95 and a two-hundred day moving average of $13.58. The firm has a market capitalization of $561.39 million, a PE ratio of -292.60 and a beta of -0.23.
International Money Express (NASDAQ:IMXI) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.11. The business had revenue of $82.68 million during the quarter, compared to analyst estimates of $81.60 million. International Money Express had a net margin of 0.56% and a return on equity of 24.08%. On average, equities research analysts anticipate that International Money Express will post 0.76 EPS for the current fiscal year.
In other news, Director John Rincon sold 100,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $11.96, for a total value of $1,196,000.00. Also, insider Solomon Cohen sold 16,508 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $12.75, for a total transaction of $210,477.00. Over the last three months, insiders have sold 124,508 shares of company stock worth $1,502,157. Company insiders own 43.10% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Hennessy Advisors Inc. acquired a new position in International Money Express in the second quarter worth about $494,000. Strs Ohio acquired a new position in International Money Express in the second quarter worth about $49,000. Anchor Capital Advisors LLC acquired a new position in International Money Express in the second quarter worth about $1,273,000. Wells Fargo & Company MN increased its holdings in shares of International Money Express by 12.2% during the second quarter. Wells Fargo & Company MN now owns 13,640 shares of the company’s stock worth $192,000 after buying an additional 1,484 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of International Money Express during the second quarter valued at approximately $677,000. 37.40% of the stock is owned by institutional investors and hedge funds.
International Money Express Company Profile
International Money Express, Inc, through its subsidiary, operates as a money remittance services company in the United States, Latin America, Mexico, Central and South America, and the Caribbean. The company offers remittance services, including a suite of ancillary financial processing solutions and payment services.
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