Millennium Management LLC Buys 92,154 Shares of International Money Express, Inc. (NASDAQ:IMXI)

Millennium Management LLC boosted its stake in shares of International Money Express, Inc. (NASDAQ:IMXI) by 92.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,691 shares of the company’s stock after purchasing an additional 92,154 shares during the quarter. Millennium Management LLC owned 0.59% of International Money Express worth $3,995,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC bought a new position in shares of International Money Express during the 1st quarter worth about $562,000. Access Investment Management LLC boosted its holdings in International Money Express by 5,051.3% during the first quarter. Access Investment Management LLC now owns 41,210 shares of the company’s stock valued at $941,000 after purchasing an additional 40,410 shares in the last quarter. LSV Asset Management grew its stake in shares of International Money Express by 3,421.5% in the 1st quarter. LSV Asset Management now owns 692,853 shares of the company’s stock valued at $15,818,000 after purchasing an additional 673,178 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of International Money Express by 26.8% in the 1st quarter. Russell Investments Group Ltd. now owns 124,647 shares of the company’s stock worth $2,846,000 after buying an additional 26,355 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in International Money Express by 27.1% in the 1st quarter. First Eagle Investment Management LLC now owns 324,809 shares of the company’s stock valued at $7,415,000 after buying an additional 69,250 shares in the last quarter. Institutional investors own 86.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IMXI. Northland Securities dropped their price target on International Money Express from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Needham & Company LLC lowered their target price on International Money Express from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. BTIG Research reaffirmed a “neutral” rating on shares of International Money Express in a report on Wednesday, August 7th. Finally, Oppenheimer began coverage on shares of International Money Express in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.17.

International Money Express Price Performance

NASDAQ IMXI opened at $17.65 on Monday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.88 and a current ratio of 1.88. International Money Express, Inc. has a 52-week low of $15.76 and a 52-week high of $23.28. The business has a 50 day simple moving average of $17.93 and a 200 day simple moving average of $19.95. The stock has a market cap of $575.57 million, a price-to-earnings ratio of 10.57 and a beta of 0.81.

International Money Express (NASDAQ:IMXI) last announced its earnings results on Wednesday, August 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The firm had revenue of $171.53 million during the quarter, compared to analyst estimates of $174.89 million. International Money Express had a net margin of 8.78% and a return on equity of 43.97%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 EPS. Analysts anticipate that International Money Express, Inc. will post 1.97 earnings per share for the current fiscal year.

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.