Short Interest in International Money Express, Inc. (NASDAQ:IMXI) Rises By 53.8%

International Money Express, Inc. (NASDAQ:IMXI) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,370,000 shares, a growth of 53.8% from the February 28th total of 891,000 shares. Based on an average daily trading volume, of 275,700 shares, the short-interest ratio is presently 5.0 days. Currently, 4.8% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

IMXI has been the topic of several research analyst reports. Needham & Company LLC dropped their price target on International Money Express from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. UBS Group lowered their target price on shares of International Money Express from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Monness Crespi & Hardt lowered International Money Express from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, International Money Express currently has a consensus rating of “Hold” and an average target price of $24.50.

Institutional Investors Weigh In On International Money Express

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in International Money Express by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,046 shares of the company’s stock worth $376,000 after acquiring an additional 630 shares during the last quarter. SkyView Investment Advisors LLC boosted its holdings in shares of International Money Express by 3.2% during the 3rd quarter. SkyView Investment Advisors LLC now owns 20,241 shares of the company’s stock worth $374,000 after purchasing an additional 637 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of International Money Express by 6.1% in the fourth quarter. Lazard Asset Management LLC now owns 11,361 shares of the company’s stock valued at $235,000 after purchasing an additional 654 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of International Money Express by 0.8% in the fourth quarter. Russell Investments Group Ltd. now owns 87,458 shares of the company’s stock valued at $1,822,000 after purchasing an additional 698 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in International Money Express by 23.4% during the fourth quarter. SG Americas Securities LLC now owns 11,520 shares of the company’s stock worth $240,000 after buying an additional 2,182 shares in the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

International Money Express Price Performance

IMXI stock traded down $0.33 during trading on Monday, hitting $12.62. The stock had a trading volume of 499,583 shares, compared to its average volume of 263,235. International Money Express has a twelve month low of $12.56 and a twelve month high of $23.28. The company’s 50-day moving average price is $16.55 and its two-hundred day moving average price is $18.57. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.80 and a quick ratio of 1.80. The stock has a market capitalization of $386.83 million, a P/E ratio of 7.05 and a beta of 0.87.

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.