Cornercap Investment Counsel Inc. Invests $525,000 in International Money Express, Inc. (NASDAQ:IMXI)

Cornercap Investment Counsel Inc. acquired a new position in International Money Express, Inc. (NASDAQ:IMXI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 23,754 shares of the company’s stock, valued at approximately $525,000. Cornercap Investment Counsel Inc. owned 0.07% of International Money Express as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in IMXI. JPMorgan Chase & Co. increased its stake in shares of International Money Express by 26.2% in the first quarter. JPMorgan Chase & Co. now owns 56,582 shares of the company’s stock worth $1,167,000 after purchasing an additional 11,749 shares during the period. Bank of New York Mellon Corp increased its stake in shares of International Money Express by 29.6% in the first quarter. Bank of New York Mellon Corp now owns 164,514 shares of the company’s stock worth $3,390,000 after purchasing an additional 37,602 shares during the period. MetLife Investment Management LLC increased its stake in shares of International Money Express by 54.1% in the first quarter. MetLife Investment Management LLC now owns 17,650 shares of the company’s stock worth $364,000 after purchasing an additional 6,195 shares during the period. Rhumbline Advisers grew its position in International Money Express by 23.4% during the first quarter. Rhumbline Advisers now owns 30,198 shares of the company’s stock worth $622,000 after buying an additional 5,735 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in International Money Express by 3.5% in the 1st quarter. BlackRock Inc. now owns 2,640,069 shares of the company’s stock valued at $54,410,000 after acquiring an additional 89,670 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on IMXI. Monness Crespi & Hardt began coverage on International Money Express in a report on Wednesday, March 20th. They issued a “buy” rating and a $27.00 price target for the company. BMO Capital Markets cut their price target on International Money Express from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, International Money Express currently has an average rating of “Moderate Buy” and an average target price of $24.00.

International Money Express Trading Down 1.0 %

International Money Express stock opened at $21.27 on Wednesday. International Money Express, Inc. has a 12 month low of $15.76 and a 12 month high of $26.71. The stock has a market cap of $717.44 million, a price-to-earnings ratio of 13.05 and a beta of 0.73. The business has a 50 day moving average price of $21.29 and a two-hundred day moving average price of $20.29. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 1.37.

International Money Express (NASDAQ:IMXI) last posted its earnings results on Tuesday, February 27th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. International Money Express had a return on equity of 42.30% and a net margin of 9.03%. The business had revenue of $171.78 million during the quarter, compared to the consensus estimate of $175.55 million. As a group, equities analysts forecast that International Money Express, Inc. will post 2.05 EPS for the current year.

Insider Activity

In other news, insider Joseph Aguilar sold 23,700 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $21.13, for a total value of $500,781.00. Following the sale, the insider now owns 105,677 shares in the company, valued at approximately $2,232,955.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.50% of the stock is owned by corporate insiders.

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.