International Money Express, Inc. (NASDAQ:IMXI) Sees Large Drop in Short Interest

International Money Express, Inc. (NASDAQ:IMXI) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 838,600 shares, a decrease of 13.8% from the December 15th total of 972,400 shares. Based on an average daily volume of 224,600 shares, the days-to-cover ratio is presently 3.7 days. Currently, 2.9% of the shares of the company are sold short.

Institutional Trading of International Money Express

Several hedge funds have recently modified their holdings of IMXI. Principal Financial Group Inc. acquired a new position in International Money Express during the 3rd quarter worth about $633,000. American Century Companies Inc. lifted its position in shares of International Money Express by 44.1% during the second quarter. American Century Companies Inc. now owns 147,260 shares of the company’s stock worth $3,069,000 after purchasing an additional 45,068 shares in the last quarter. Barclays PLC grew its stake in shares of International Money Express by 137.1% during the third quarter. Barclays PLC now owns 73,260 shares of the company’s stock valued at $1,355,000 after purchasing an additional 42,367 shares during the last quarter. Forager Capital Management LLC increased its holdings in shares of International Money Express by 27.1% in the third quarter. Forager Capital Management LLC now owns 1,221,174 shares of the company’s stock valued at $22,580,000 after purchasing an additional 260,000 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its position in International Money Express by 46.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 477,273 shares of the company’s stock worth $9,946,000 after purchasing an additional 152,464 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

International Money Express Price Performance

Shares of IMXI traded down $0.17 during trading hours on Friday, hitting $21.04. The stock had a trading volume of 110,322 shares, compared to its average volume of 129,163. The stock has a market capitalization of $654.34 million, a price-to-earnings ratio of 11.75 and a beta of 0.89. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.80 and a quick ratio of 1.80. The company’s fifty day moving average is $20.99 and its two-hundred day moving average is $19.48. International Money Express has a 52 week low of $16.17 and a 52 week high of $23.28.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IMXI shares. Oppenheimer assumed coverage on shares of International Money Express in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. BMO Capital Markets upped their price target on International Money Express from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, November 11th. 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 report on Monday, November 11th. Needham & Company LLC upped their target price on International Money Express from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Monness Crespi & Hardt reduced their target price on International Money Express from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $27.00.

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.