Short Interest in International Money Express, Inc. (NASDAQ:IMXI) Decreases By 7.8%

International Money Express, Inc. (NASDAQ:IMXI) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 1,190,000 shares, a decline of 7.8% from the October 15th total of 1,290,000 shares. Currently, 4.1% of the company’s shares are sold short. Based on an average trading volume of 282,700 shares, the short-interest ratio is currently 4.2 days.

Analyst Ratings Changes

A number of research firms recently weighed in on IMXI. Oppenheimer assumed coverage on shares of International Money Express in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. BTIG Research reissued a “neutral” rating on shares of International Money Express in a report on Wednesday, August 7th. Needham & Company LLC upped their target price on International Money Express from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Monness Crespi & Hardt decreased their price target on International Money Express from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Northland Securities upped their price objective on International Money Express from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Hedge Funds Weigh In On International Money Express

Large investors have recently bought and sold shares of the stock. Rhumbline Advisers raised its holdings in shares of International Money Express by 1.0% in the second quarter. Rhumbline Advisers now owns 45,877 shares of the company’s stock valued at $956,000 after purchasing an additional 452 shares during the last quarter. nVerses Capital LLC increased its position in shares of International Money Express by 133.3% during the third quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock valued at $39,000 after acquiring an additional 1,200 shares during the last quarter. Foyston Gordon & Payne Inc lifted its holdings in International Money Express by 8.2% during the second quarter. Foyston Gordon & Payne Inc now owns 21,798 shares of the company’s stock worth $454,000 after acquiring an additional 1,658 shares during the period. Lazard Asset Management LLC boosted its position in International Money Express by 41.5% in the first quarter. Lazard Asset Management LLC now owns 6,319 shares of the company’s stock worth $143,000 after purchasing an additional 1,853 shares during the last quarter. Finally, Riverwater Partners LLC grew its stake in International Money Express by 14.9% in the 2nd quarter. Riverwater Partners LLC now owns 14,833 shares of the company’s stock valued at $309,000 after purchasing an additional 1,926 shares during the period. 86.71% of the stock is currently owned by institutional investors.

International Money Express Stock Down 1.6 %

IMXI stock opened at $20.87 on Monday. The firm has a market capitalization of $649.06 million, a PE ratio of 11.66 and a beta of 0.82. The company has a quick ratio of 1.88, a current ratio of 1.80 and a debt-to-equity ratio of 1.12. International Money Express has a twelve month low of $16.17 and a twelve month high of $23.28. The stock’s 50 day moving average is $18.42 and its 200-day moving average is $19.39.

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.