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

International Money Express, Inc. (NASDAQ:IMXI) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 838,600 shares, a drop of 13.8% from the December 15th total of 972,400 shares. Based on an average trading volume of 224,600 shares, the short-interest ratio is currently 3.7 days. Approximately 2.9% of the shares of the company are sold short.

International Money Express Price Performance

Shares of International Money Express stock traded down $0.17 during trading hours on Friday, reaching $21.04. The stock had a trading volume of 110,322 shares, compared to its average volume of 129,163. The stock’s 50 day moving average is $20.99 and its 200 day moving average is $19.48. The firm has a market capitalization of $654.34 million, a PE ratio of 11.75 and a beta of 0.89. 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 1.80 and a debt-to-equity ratio of 1.12.

Institutional Trading of International Money Express

Several hedge funds have recently made changes to their positions in IMXI. Rhumbline Advisers grew its stake in shares of International Money Express by 1.0% in the 2nd quarter. Rhumbline Advisers now owns 45,877 shares of the company’s stock valued at $956,000 after buying an additional 452 shares during the period. American Century Companies Inc. grew its stake in shares of International Money Express by 44.1% in the 2nd quarter. American Century Companies Inc. now owns 147,260 shares of the company’s stock valued at $3,069,000 after buying an additional 45,068 shares during the period. Renaissance Technologies LLC grew its stake in shares of International Money Express by 83.8% in the 2nd quarter. Renaissance Technologies LLC now owns 130,700 shares of the company’s stock valued at $2,724,000 after buying an additional 59,600 shares during the period. First Eagle Investment Management LLC grew its stake in shares of International Money Express by 46.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 477,273 shares of the company’s stock valued at $9,946,000 after buying an additional 152,464 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in shares of International Money Express by 973.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 18,580 shares of the company’s stock worth $387,000 after purchasing an additional 16,849 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on IMXI. Needham & Company LLC increased their price target 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. Northland Securities increased 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 report on Monday, November 11th. BMO Capital Markets raised their price objective on shares of International Money Express from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Oppenheimer started coverage on shares of International Money Express in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. Finally, Monness Crespi & Hardt dropped 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. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

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.