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

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Oppenheimer assumed coverage on International Money Express in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. BTIG Research reaffirmed a “neutral” rating on shares of International Money Express in a research report on Wednesday, August 7th. Northland Securities upped their price objective on International Money Express from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. BMO Capital Markets upped their price objective on International Money Express from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Monness Crespi & Hardt cut their price objective on International Money Express from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, International Money Express has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

International Money Express Stock Performance

NASDAQ IMXI traded down $0.03 during trading hours on Friday, hitting $21.07. The company had a trading volume of 86,207 shares, compared to its average volume of 374,868. The business has a 50 day moving average of $18.93 and a 200-day moving average of $19.45. International Money Express has a 1-year low of $16.17 and a 1-year high of $23.28. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.80 and a current ratio of 1.80. The company has a market cap of $655.26 million, a PE ratio of 11.77 and a beta of 0.82.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. 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 valued at $39,000 after buying an additional 1,200 shares in the last quarter. CWM LLC increased its holdings in International Money Express by 201.7% in the second quarter. CWM LLC now owns 3,394 shares of the company’s stock valued at $71,000 after buying an additional 2,269 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in International Money Express in the second quarter valued at about $91,000. Quarry LP increased its holdings in International Money Express by 113.7% in the second quarter. Quarry LP now owns 4,760 shares of the company’s stock valued at $99,000 after buying an additional 2,533 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in International Money Express by 1,277.5% in the second quarter. Meeder Asset Management Inc. now owns 6,061 shares of the company’s stock valued at $126,000 after buying an additional 5,621 shares in the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

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.