International Money Express, Inc. (NASDAQ:IMXI) Short Interest Down 7.8% in October

International Money Express, Inc. (NASDAQ:IMXI) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 1,190,000 shares, a decline of 7.8% from the October 15th total of 1,290,000 shares. Currently, 4.1% of the company’s shares are short sold. Based on an average trading volume of 282,700 shares, the short-interest ratio is currently 4.2 days.

Institutional Investors Weigh In On International Money Express

Several large investors have recently bought and sold shares of the stock. nVerses Capital LLC boosted its stake in shares of International Money Express by 133.3% in the 3rd 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 during the period. CWM LLC lifted its stake in International Money Express by 201.7% in the second quarter. CWM LLC now owns 3,394 shares of the company’s stock worth $71,000 after acquiring an additional 2,269 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in International Money Express during the 2nd quarter worth approximately $91,000. Quarry LP increased its position in shares of International Money Express by 113.7% in the 2nd quarter. Quarry LP now owns 4,760 shares of the company’s stock valued at $99,000 after purchasing an additional 2,533 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of International Money Express by 1,277.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 6,061 shares of the company’s stock valued at $126,000 after purchasing an additional 5,621 shares in the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on IMXI. BTIG Research reaffirmed a “neutral” rating on shares of International Money Express in a research report on Wednesday, August 7th. Monness Crespi & Hardt lowered their price target on International Money Express from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Needham & Company LLC lifted their price objective on International Money Express from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. BMO Capital Markets raised their target price on International Money Express from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, Northland Securities boosted their price target on shares of International Money Express from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $27.00.

International Money Express Stock Down 0.9 %

International Money Express stock opened at $20.69 on Tuesday. The firm has a market capitalization of $643.46 million, a P/E ratio of 11.75 and a beta of 0.82. The stock’s fifty day simple moving average is $18.42 and its 200-day simple moving average is $19.38. International Money Express has a twelve month low of $16.17 and a twelve month high of $23.28. The company has a current ratio of 1.80, a quick ratio of 1.88 and a debt-to-equity ratio of 1.12.

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.