Short Interest in International Money Express, Inc. (NASDAQ:IMXI) Rises By 13.2%

International Money Express, Inc. (NASDAQ:IMXI) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 1,290,000 shares, an increase of 13.2% from the September 30th total of 1,140,000 shares. Based on an average trading volume of 303,900 shares, the days-to-cover ratio is presently 4.2 days. Currently, 4.4% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on IMXI shares. BTIG Research reissued a “neutral” rating on shares of International Money Express in a research note on Wednesday, August 7th. Needham & Company LLC cut their price target 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. Oppenheimer assumed coverage on shares of International Money Express in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Finally, Northland Securities dropped their price objective on shares of International Money Express from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, International Money Express has a consensus rating of “Moderate Buy” and an average price target of $25.40.

International Money Express Stock Up 0.3 %

IMXI traded up $0.06 on Thursday, reaching $17.59. The company’s stock had a trading volume of 176,428 shares, compared to its average volume of 248,288. International Money Express has a 1 year low of $15.76 and a 1 year high of $23.28. The business’s 50 day moving average is $18.00 and its 200 day moving average is $19.53. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market cap of $573.57 million, a price-to-earnings ratio of 10.49 and a beta of 0.81.

International Money Express (NASDAQ:IMXI) last issued 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). International Money Express had a net margin of 8.78% and a return on equity of 43.97%. The company had revenue of $171.53 million during the quarter, compared to analyst estimates of $174.89 million. During the same quarter last year, the company posted $0.46 EPS. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, research analysts forecast that International Money Express will post 1.97 EPS for the current fiscal year.

Institutional Trading of International Money Express

Hedge funds have recently added to or reduced their stakes in the business. LSV Asset Management raised its position in shares of International Money Express by 3,421.5% during the 1st quarter. LSV Asset Management now owns 692,853 shares of the company’s stock worth $15,818,000 after buying an additional 673,178 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in International Money Express by 46.9% during the second quarter. First Eagle Investment Management LLC now owns 477,273 shares of the company’s stock worth $9,946,000 after purchasing an additional 152,464 shares in the last quarter. Millennium Management LLC lifted its position in International Money Express by 92.6% in the second quarter. Millennium Management LLC now owns 191,691 shares of the company’s stock worth $3,995,000 after purchasing an additional 92,154 shares during the period. Samson Rock Capital LLP bought a new position in International Money Express during the 3rd quarter valued at $1,276,000. Finally, Renaissance Technologies LLC increased its position in shares of International Money Express by 83.8% during the 2nd quarter. Renaissance Technologies LLC now owns 130,700 shares of the company’s stock valued at $2,724,000 after purchasing an additional 59,600 shares during the period. 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.