International Money Express, Inc. (NASDAQ:IMXI) Receives Average Rating of “Moderate Buy” from Brokerages

International Money Express, Inc. (NASDAQ:IMXI) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $27.00.

IMXI has been the subject of several research analyst reports. Northland Securities lifted 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. Needham & Company LLC lifted their target price on International Money Express from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. BMO Capital Markets increased their price target on International Money Express from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, Monness Crespi & Hardt lowered shares of International Money Express from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd.

International Money Express Price Performance

Shares of NASDAQ IMXI opened at $18.14 on Friday. The company has a market capitalization of $564.14 million, a PE ratio of 10.13 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 has a twelve month low of $16.17 and a twelve month high of $23.28. The firm has a fifty day simple moving average of $20.49 and a 200 day simple moving average of $19.40.

Institutional Investors Weigh In On International Money Express

A number of hedge funds have recently added to or reduced their stakes in IMXI. nVerses Capital LLC raised 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 worth $39,000 after purchasing an additional 1,200 shares during the period. SG Americas Securities LLC raised its holdings in International Money Express by 23.4% during the fourth quarter. SG Americas Securities LLC now owns 11,520 shares of the company’s stock worth $240,000 after buying an additional 2,182 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in shares of International Money Express by 90.7% in the third quarter. Meeder Asset Management Inc. now owns 11,560 shares of the company’s stock valued at $214,000 after buying an additional 5,499 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of International Money Express during the fourth quarter valued at about $332,000. Finally, Cubist Systematic Strategies LLC increased its position in shares of International Money Express by 973.4% during the second quarter. Cubist Systematic Strategies LLC now owns 18,580 shares of the company’s stock worth $387,000 after acquiring an additional 16,849 shares in the last quarter. Institutional investors and hedge funds 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.