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

International Money Express, Inc. (NASDAQ:IMXI) saw a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 977,800 shares, a decrease of 6.9% from the November 15th total of 1,050,000 shares. Based on an average daily volume of 258,300 shares, the short-interest ratio is presently 3.8 days. Currently, 3.4% of the company’s stock are short sold.

International Money Express Stock Up 2.3 %

International Money Express stock opened at $21.87 on Wednesday. The company has a market capitalization of $680.14 million, a P/E ratio of 12.22 and a beta of 0.88. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.80 and a current ratio of 1.80. International Money Express has a fifty-two week low of $16.17 and a fifty-two week high of $23.28. The stock has a 50-day simple moving average of $19.65 and a 200-day simple moving average of $19.48.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on IMXI shares. Needham & Company LLC lifted their price objective on shares of International Money Express from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Monness Crespi & Hardt decreased their price target on International Money Express from $30.00 to $28.00 and set a “buy” rating for the company in a report on Monday, November 4th. BMO Capital Markets increased their price objective on International Money Express from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Oppenheimer began coverage on International Money Express in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. Finally, Northland Securities increased their price target on shares of International Money Express from $23.00 to $27.00 and gave the company 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 given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Institutional Investors Weigh In On International Money Express

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of International Money Express by 7.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,556,925 shares of the company’s stock valued at $28,788,000 after acquiring an additional 109,293 shares during the period. Forager Capital Management LLC grew its position in International Money Express by 27.1% during the 3rd quarter. Forager Capital Management LLC now owns 1,221,174 shares of the company’s stock worth $22,580,000 after purchasing an additional 260,000 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its stake in International Money Express by 17.2% in the third quarter. ArrowMark Colorado Holdings LLC now owns 994,925 shares of the company’s stock valued at $18,396,000 after purchasing an additional 145,686 shares during the period. New South Capital Management Inc. purchased a new stake in shares of International Money Express in the third quarter valued at about $17,055,000. Finally, LSV Asset Management boosted its stake in shares of International Money Express by 5.2% during the second quarter. LSV Asset Management now owns 728,977 shares of the company’s stock worth $15,192,000 after buying an additional 36,124 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

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.