International Money Express, Inc. (NASDAQ:IMXI) Sees Significant Decrease in Short Interest

International Money Express, Inc. (NASDAQ:IMXI) was the target of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 1,050,000 shares, a drop of 11.8% from the October 31st total of 1,190,000 shares. Based on an average trading volume of 282,700 shares, the days-to-cover ratio is presently 3.7 days. Currently, 3.8% of the shares of the company are short sold.

Analyst Ratings Changes

Several research firms have issued reports on IMXI. Northland Securities boosted their price target on International Money Express from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, November 11th. BTIG Research reaffirmed a “neutral” rating on shares of International Money Express in a report on Wednesday, August 7th. Oppenheimer initiated coverage on International Money Express in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. Needham & Company LLC boosted their price target on shares of International Money Express from $22.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Monness Crespi & Hardt dropped their price objective on International Money Express from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Two investment 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, International Money Express presently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Institutional Investors Weigh In On International Money Express

Several hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its position in shares of International Money Express by 1.0% in the second quarter. Rhumbline Advisers now owns 45,877 shares of the company’s stock worth $956,000 after acquiring an additional 452 shares during the period. SkyView Investment Advisors LLC grew its holdings in International Money Express by 3.2% in the 3rd quarter. SkyView Investment Advisors LLC now owns 20,241 shares of the company’s stock valued at $374,000 after buying an additional 637 shares in the last quarter. nVerses Capital LLC lifted its holdings in International Money Express by 133.3% in the third quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock valued at $39,000 after acquiring an additional 1,200 shares during the last quarter. Foyston Gordon & Payne Inc raised its stake in shares of International Money Express by 8.2% in the 2nd quarter. Foyston Gordon & Payne Inc now owns 21,798 shares of the company’s stock valued at $454,000 after acquiring an additional 1,658 shares during the period. Finally, Lazard Asset Management LLC increased its stake in International Money Express by 41.5% during the first quarter. Lazard Asset Management LLC now owns 6,319 shares of the company’s stock worth $143,000 after purchasing an additional 1,853 shares during the period. 86.71% of the stock is owned by hedge funds and other institutional investors.

International Money Express Stock Performance

Shares of International Money Express stock traded up $0.13 on Monday, reaching $21.20. 153,816 shares of the stock were exchanged, compared to its average volume of 259,164. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.12. International Money Express has a twelve month low of $16.17 and a twelve month high of $23.28. The business has a 50 day moving average price of $18.93 and a two-hundred day moving average price of $19.44. The firm has a market capitalization of $659.30 million, a price-to-earnings ratio of 11.87 and a beta of 0.82.

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.