International Money Express (NASDAQ:IMXI) Shares Gap Down – Here’s What Happened

International Money Express, Inc. (NASDAQ:IMXI)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $20.11, but opened at $19.44. International Money Express shares last traded at $19.41, with a volume of 20,412 shares.

Analyst Ratings Changes

IMXI has been the topic of a number of analyst reports. Northland Securities lifted their price target on International Money Express from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Needham & Company LLC increased their price target on shares of International Money Express from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Monness Crespi & Hardt downgraded shares of International Money Express from a “buy” rating to a “neutral” rating in a research report on Thursday. Oppenheimer assumed coverage on shares of International Money Express in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. Finally, BMO Capital Markets lifted their price target on shares of International Money Express from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

International Money Express Stock Down 0.2 %

The company’s 50-day moving average is $20.87 and its 200 day moving average is $19.48. The stock has a market capitalization of $609.25 million, a PE ratio of 10.94 and a beta of 0.89. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.12.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SkyView Investment Advisors LLC raised its stake in International Money Express by 3.2% in the 3rd quarter. SkyView Investment Advisors LLC now owns 20,241 shares of the company’s stock worth $374,000 after acquiring an additional 637 shares during the last quarter. nVerses Capital LLC raised its stake in shares of 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 during the last quarter. SG Americas Securities LLC raised its stake in shares of International Money Express by 23.4% in the fourth quarter. SG Americas Securities LLC now owns 11,520 shares of the company’s stock worth $240,000 after purchasing an additional 2,182 shares during the last quarter. Quarry LP lifted its holdings in shares of International Money Express by 113.7% during the second quarter. Quarry LP now owns 4,760 shares of the company’s stock worth $99,000 after purchasing an additional 2,533 shares during the period. Finally, Martingale Asset Management L P boosted its position in International Money Express by 6.4% in the third quarter. Martingale Asset Management L P now owns 42,370 shares of the company’s stock valued at $783,000 after buying an additional 2,563 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

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.