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 drop in short interest in October. As of October 31st, there was short interest totalling 1,190,000 shares, a drop of 7.8% from the October 15th total of 1,290,000 shares. Based on an average trading volume of 282,700 shares, the days-to-cover ratio is presently 4.2 days. Currently, 4.1% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

IMXI has been the topic of several analyst reports. Oppenheimer initiated coverage on shares of International Money Express in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. Needham & Company LLC lifted their target price on shares of International Money Express from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. BMO Capital Markets lifted their target price on shares of International Money Express from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. BTIG Research reaffirmed a “neutral” rating on shares of International Money Express in a research note on Wednesday, August 7th. Finally, Monness Crespi & Hardt decreased their target price on shares of 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, International Money Express presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Institutional Trading of International Money Express

Several large investors have recently added to or reduced their stakes in IMXI. New South Capital Management Inc. bought a new stake in shares of International Money Express during the 3rd quarter valued at $17,055,000. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of International Money Express during the 3rd quarter valued at $4,854,000. Forager Capital Management LLC boosted its holdings in shares of International Money Express by 27.1% during the 3rd quarter. Forager Capital Management LLC now owns 1,221,174 shares of the company’s stock valued at $22,580,000 after buying an additional 260,000 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of International Money Express during the 3rd quarter valued at $4,598,000. Finally, First Eagle Investment Management LLC boosted its holdings in shares of International Money Express by 46.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 477,273 shares of the company’s stock valued at $9,946,000 after buying an additional 152,464 shares in the last quarter. Institutional investors own 86.71% of the company’s stock.

International Money Express Stock Performance

NASDAQ:IMXI opened at $20.94 on Wednesday. The stock has a market cap of $651.21 million, a P/E ratio of 11.70 and a beta of 0.82. The firm’s fifty day simple moving average is $18.47 and its 200 day simple moving average is $19.39. International Money Express has a twelve month low of $16.17 and a twelve month high of $23.28. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.12.

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.