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

International Money Express, Inc. (NASDAQ:IMXI) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 1,010,000 shares, an increase of 19.2% from the August 15th total of 847,400 shares. Currently, 3.5% of the shares of the stock are sold short. Based on an average daily volume of 301,100 shares, the short-interest ratio is presently 3.4 days.

International Money Express Price Performance

Shares of IMXI traded up $0.29 during trading hours on Friday, hitting $18.46. 204,028 shares of the stock were exchanged, compared to its average volume of 253,959. The stock’s 50-day moving average price is $19.03 and its two-hundred day moving average price is $20.33. International Money Express has a 12-month low of $15.76 and a 12-month high of $23.28. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market cap of $602.53 million, a price-to-earnings ratio of 11.05 and a beta of 0.82.

International Money Express (NASDAQ:IMXI) last released 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 business had revenue of $171.53 million for the quarter, compared to analysts’ expectations of $174.89 million. International Money Express had a return on equity of 43.97% and a net margin of 8.78%. International Money Express’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 EPS. Research analysts expect that International Money Express will post 1.98 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. CWM LLC increased its position in International Money Express by 201.7% during the second quarter. CWM LLC now owns 3,394 shares of the company’s stock worth $71,000 after purchasing an additional 2,269 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of International Money Express during the 2nd quarter worth approximately $91,000. Quarry LP raised its position in shares of International Money Express by 113.7% during the 2nd quarter. Quarry LP now owns 4,760 shares of the company’s stock valued at $99,000 after buying an additional 2,533 shares during the period. Meeder Asset Management Inc. lifted its holdings in International Money Express by 1,277.5% in the second quarter. Meeder Asset Management Inc. now owns 6,061 shares of the company’s stock valued at $126,000 after acquiring an additional 5,621 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in International Money Express by 41.5% in the first quarter. Lazard Asset Management LLC now owns 6,319 shares of the company’s stock worth $143,000 after acquiring an additional 1,853 shares during the period. 86.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Northland Securities dropped their price objective on International Money Express from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC dropped their price target on shares of International Money Express from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, BTIG Research restated a “neutral” rating on shares of International Money Express in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.17.

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.