Short Interest in International Money Express, Inc. (NASDAQ:IMXI) Expands By 7.9%

International Money Express, Inc. (NASDAQ:IMXI) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 637,400 shares, an increase of 7.9% from the May 31st total of 590,900 shares. Currently, 2.2% of the company’s shares are short sold. Based on an average daily trading volume, of 206,400 shares, the days-to-cover ratio is currently 3.1 days.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. BTIG Research began coverage on International Money Express in a report on Monday, June 3rd. They set a “buy” rating and a $25.00 price target on the stock. BMO Capital Markets upped their price objective on shares of International Money Express from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Needham & Company LLC reiterated a “buy” rating and set a $25.00 target price on shares of International Money Express in a report on Thursday, May 9th. Finally, Monness Crespi & Hardt assumed coverage on International Money Express in a research note on Wednesday, March 20th. They issued a “buy” rating and a $27.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

Hedge Funds Weigh In On International Money Express

Several large investors have recently added to or reduced their stakes in IMXI. International Assets Investment Management LLC bought a new stake in International Money Express during the 4th quarter valued at approximately $38,000. New York State Teachers Retirement System purchased a new position in International Money Express during the fourth quarter valued at $65,000. DekaBank Deutsche Girozentrale purchased a new position in International Money Express during the 4th quarter valued at approximately $95,000. Lazard Asset Management LLC grew its stake 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 worth $143,000 after buying an additional 1,853 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in International Money Express by 8.1% during the fourth quarter. SG Americas Securities LLC now owns 8,321 shares of the company’s stock worth $184,000 after acquiring an additional 625 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

International Money Express Price Performance

IMXI opened at $20.51 on Thursday. International Money Express has a 52-week low of $15.76 and a 52-week high of $26.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.68 and a current ratio of 1.68. The company’s 50-day simple moving average is $20.67 and its two-hundred day simple moving average is $21.09. The stock has a market capitalization of $669.45 million, a P/E ratio of 12.28 and a beta of 0.84.

International Money Express (NASDAQ:IMXI) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. International Money Express had a net margin of 9.02% and a return on equity of 43.75%. The company had revenue of $150.41 million for the quarter, compared to the consensus estimate of $150.60 million. As a group, analysts predict that International Money Express will post 2.04 EPS for the current year.

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.