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

International Money Express, Inc. (NASDAQ:IMXI) was the target of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 1,050,000 shares, a decrease 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 currently 3.7 days. Currently, 3.8% of the shares of the stock are short sold.

International Money Express Trading Down 0.1 %

Shares of IMXI stock traded down $0.03 during mid-day trading on Friday, reaching $21.07. The company’s stock had a trading volume of 86,207 shares, compared to its average volume of 374,868. The company’s 50 day simple moving average is $18.93 and its 200-day simple moving average is $19.45. International Money Express has a 12-month low of $16.17 and a 12-month high of $23.28. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $655.26 million, a PE ratio of 11.77 and a beta of 0.82.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its holdings in shares of International Money Express by 41.5% in the 1st quarter. Lazard Asset Management LLC now owns 6,319 shares of the company’s stock valued at $143,000 after buying an additional 1,853 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of International Money Express by 95.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 97,072 shares of the company’s stock valued at $2,217,000 after buying an additional 47,385 shares during the period. CWM LLC boosted its stake in International Money Express by 201.7% during the 2nd quarter. CWM LLC now owns 3,394 shares of the company’s stock valued at $71,000 after purchasing an additional 2,269 shares during the period. SG Americas Securities LLC acquired a new position in International Money Express during the 2nd quarter valued at about $364,000. Finally, Riverwater Partners LLC boosted its stake in International Money Express by 14.9% during the 2nd quarter. Riverwater Partners LLC now owns 14,833 shares of the company’s stock valued at $309,000 after purchasing an additional 1,926 shares during the period. 86.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IMXI has been the topic of a number of analyst reports. Oppenheimer initiated coverage on shares of International Money Express in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. BMO Capital Markets raised their target price on shares of International Money Express from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Northland Securities raised their target price on shares of International Money Express from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. BTIG Research restated a “neutral” rating on shares of International Money Express in a research report on Wednesday, August 7th. Finally, Monness Crespi & Hardt decreased their price target on shares of International Money Express from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $27.00.

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.