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

International Money Express, Inc. (NASDAQ:IMXI) saw 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. Currently, 4.8% of the company’s shares are sold short. Based on an average trading volume of 275,700 shares, the days-to-cover ratio is currently 5.0 days.

Analysts Set New Price Targets

IMXI has been the topic of several research reports. Monness Crespi & Hardt cut International Money Express from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Needham & Company LLC decreased their price objective on International Money Express from $25.00 to $20.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, UBS Group reduced 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 report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.50.

Institutional Investors Weigh In On International Money Express

A number of large investors have recently added to or reduced their stakes in IMXI. Aquatic Capital Management LLC purchased a new stake in shares of International Money Express in the 4th quarter worth $169,000. Lazard Asset Management LLC lifted its position in shares of International Money Express by 6.1% during the 4th quarter. Lazard Asset Management LLC now owns 11,361 shares of the company’s stock valued at $235,000 after buying an additional 654 shares in the last quarter. SG Americas Securities LLC raised its position in shares of International Money Express by 23.4% during the 4th quarter. SG Americas Securities LLC now owns 11,520 shares of the company’s stock valued at $240,000 after purchasing an additional 2,182 shares during the period. Jump Financial LLC bought a new position in International Money Express in the 4th quarter worth $281,000. Finally, Integrated Quantitative Investments LLC purchased a new stake in International Money Express in the 4th quarter worth $292,000. Institutional investors own 86.71% of the company’s stock.

International Money Express Stock Performance

IMXI traded down $0.59 during midday trading on Friday, hitting $12.95. 315,947 shares of the company traded hands, compared to its average volume of 262,290. The company’s 50-day moving average is $16.55 and its 200 day moving average is $18.57. International Money Express has a 52 week low of $12.82 and a 52 week high of $23.28. The firm has a market capitalization of $396.94 million, a PE ratio of 7.23 and a beta of 0.87. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.12.

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.