International Money Express’ (IMXI) “Buy” Rating Reaffirmed at Needham & Company LLC

International Money Express (NASDAQ:IMXI)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research note issued on Monday,Benzinga reports. They presently have a $20.00 price target on the stock. Needham & Company LLC’s target price would suggest a potential upside of 63.13% from the stock’s previous close.

A number of other research analysts have also commented on the stock. UBS Group reduced their price target on shares of International Money Express from $22.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Monness Crespi & Hardt lowered International Money Express from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, International Money Express presently has an average rating of “Hold” and an average price target of $24.50.

International Money Express Price Performance

IMXI stock opened at $12.26 on Monday. The firm has a 50 day moving average of $15.79 and a 200-day moving average of $18.36. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $375.79 million, a P/E ratio of 6.85 and a beta of 1.01. International Money Express has a 12 month low of $11.78 and a 12 month high of $22.83.

Institutional Trading of International Money Express

Institutional investors and hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in International Money Express by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,046 shares of the company’s stock valued at $376,000 after purchasing an additional 630 shares in the last quarter. SkyView Investment Advisors LLC grew its stake in shares of International Money Express by 3.2% in the 3rd quarter. SkyView Investment Advisors LLC now owns 20,241 shares of the company’s stock worth $374,000 after buying an additional 637 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of International Money Express by 6.1% during the 4th quarter. Lazard Asset Management LLC now owns 11,361 shares of the company’s stock valued at $235,000 after purchasing an additional 654 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in International Money Express by 0.8% in the fourth quarter. Russell Investments Group Ltd. now owns 87,458 shares of the company’s stock worth $1,822,000 after purchasing an additional 698 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of International Money Express by 23.4% during the fourth quarter. SG Americas Securities LLC now owns 11,520 shares of the company’s stock valued at $240,000 after purchasing an additional 2,182 shares during the period. 86.71% of the stock is currently owned by institutional investors.

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.