Stock Traders Purchase Large Volume of Put Options on International Money Express (NASDAQ:IMXI)

International Money Express, Inc. (NASDAQ:IMXI) was the target of some unusual options trading activity on Wednesday. Investors acquired 2,194 put options on the company. This is an increase of approximately 98% compared to the average daily volume of 1,110 put options.

Institutional Investors Weigh In On International Money Express

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new position in International Money Express in the 2nd quarter valued at approximately $33,315,000. Man Group plc purchased a new position in shares of International Money Express in the second quarter worth $18,097,000. Hsbc Holdings PLC purchased a new position in shares of International Money Express in the second quarter worth $11,487,000. Alberta Investment Management Corp purchased a new position in shares of International Money Express in the second quarter worth $11,173,000. Finally, Polar Asset Management Partners Inc. bought a new position in shares of International Money Express during the second quarter valued at $10,182,000. Institutional investors own 86.71% of the company’s stock.

International Money Express Stock Down 7.3%

NASDAQ:IMXI opened at $6.39 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.96 and a current ratio of 2.53. The firm has a market cap of $193.11 million, a P/E ratio of 8.83 and a beta of 0.83. International Money Express has a fifty-two week low of $5.93 and a fifty-two week high of $15.95. The firm has a 50-day simple moving average of $10.84 and a two-hundred day simple moving average of $13.87.

Analyst Ratings Changes

A number of analysts have recently commented on IMXI shares. Wall Street Zen raised International Money Express from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. UBS Group reduced their price objective on International Money Express from $16.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Weiss Ratings cut International Money Express from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, International Money Express presently has an average rating of “Reduce” and a consensus target price of $7.00.

About International Money Express

International Money Express, Inc., known as Intermex, provides money-transfer services for individuals sending funds across international borders. The company connects customers with recipients through a network of retail agent locations and digital channels. Intermex primarily serves transfers from the United States and other markets to countries in Latin America and the Caribbean. Depending on the destination, recipients can collect funds in cash or receive them through options such as a bank deposit or mobile wallet.