First Sabrepoint Capital Management LP Takes Position in International Money Express, Inc. (NASDAQ:IMXI)

First Sabrepoint Capital Management LP purchased a new position in International Money Express, Inc. (NASDAQ:IMXI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 148,821 shares of the company’s stock, valued at approximately $2,752,000. International Money Express makes up approximately 0.8% of First Sabrepoint Capital Management LP’s portfolio, making the stock its 29th largest holding. First Sabrepoint Capital Management LP owned 0.48% of International Money Express at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. nVerses Capital LLC raised 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 worth $39,000 after purchasing an additional 1,200 shares in the last quarter. CWM LLC raised 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 worth $71,000 after acquiring an additional 2,269 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in International Money Express during the second quarter valued at approximately $91,000. Quarry LP boosted its stake in International Money Express by 113.7% in the second quarter. Quarry LP now owns 4,760 shares of the company’s stock valued at $99,000 after acquiring an additional 2,533 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its stake 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 in the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on IMXI shares. Oppenheimer started coverage on International Money Express in a report on Tuesday, October 1st. They set a “market perform” rating for the company. Needham & Company LLC raised their price target on International Money Express from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. BMO Capital Markets upped their price objective on shares of International Money Express from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Northland Securities boosted their target price 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. Finally, Monness Crespi & Hardt cut their target price 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 assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

International Money Express Trading Up 1.0 %

Shares of International Money Express stock opened at $21.33 on Tuesday. The stock has a market cap of $663.34 million, a PE ratio of 11.92 and a beta of 0.88. The firm has a fifty day moving average price of $19.24 and a 200 day moving average price of $19.46. International Money Express, Inc. has a 1 year low of $16.17 and a 1 year high of $23.28. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.80 and a quick ratio of 1.80.

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.