International Money Express (NASDAQ:IMXI) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

International Money Express (NASDAQ:IMXI) had its price target increased by Needham & Company LLC from $22.00 to $25.00 in a report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. Oppenheimer initiated coverage on shares of International Money Express in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Monness Crespi & Hardt decreased their target price on International Money Express from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, November 4th. BMO Capital Markets boosted their price target on International Money Express from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. BTIG Research reiterated a “neutral” rating on shares of International Money Express in a research note on Wednesday, August 7th. Finally, Northland Securities raised their price target on shares of International Money Express from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $27.00.

International Money Express Trading Down 1.6 %

Shares of NASDAQ IMXI opened at $20.87 on Tuesday. The stock has a market cap of $649.04 million, a P/E ratio of 11.66 and a beta of 0.82. International Money Express has a 52-week low of $16.17 and a 52-week high of $23.28. The firm has a 50 day moving average price of $18.42 and a two-hundred day moving average price of $19.39. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.88 and a current ratio of 1.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC lifted its holdings in International Money Express by 133.3% during the third quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock worth $39,000 after acquiring an additional 1,200 shares during the period. CWM LLC lifted its stake in shares of International Money Express by 201.7% during the 2nd quarter. CWM LLC now owns 3,394 shares of the company’s stock valued at $71,000 after buying an additional 2,269 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of International Money Express during the 2nd quarter valued at approximately $91,000. Quarry LP boosted its holdings in International Money Express by 113.7% in the 2nd quarter. Quarry LP now owns 4,760 shares of the company’s stock worth $99,000 after buying an additional 2,533 shares during the period. Finally, Meeder Asset Management Inc. grew its position in shares of 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 purchasing an additional 5,621 shares in the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

International Money Express Company Profile

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.