Short Interest in International Money Express, Inc. (NASDAQ:IMXI) Grows By 53.8%

International Money Express, Inc. (NASDAQ:IMXI) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,370,000 shares, an increase of 53.8% from the February 28th total of 891,000 shares. Based on an average trading volume of 275,700 shares, the days-to-cover ratio is currently 5.0 days. Currently, 4.8% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC decreased their price target on shares of International Money Express from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Monness Crespi & Hardt downgraded shares of International Money Express from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Finally, UBS Group dropped their price target on shares of International Money Express from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, International Money Express currently has an average rating of “Hold” and an average price target of $24.50.

Hedge Funds Weigh In On International Money Express

A number of institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in International Money Express by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,046 shares of the company’s stock worth $376,000 after acquiring an additional 630 shares in the last quarter. SkyView Investment Advisors LLC boosted its position in International Money Express by 3.2% during the 3rd quarter. SkyView Investment Advisors LLC now owns 20,241 shares of the company’s stock valued at $374,000 after acquiring an additional 637 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of International Money Express by 6.1% during the 4th quarter. Lazard Asset Management LLC now owns 11,361 shares of the company’s stock worth $235,000 after purchasing an additional 654 shares during the last quarter. Russell Investments Group Ltd. boosted its position in International Money Express by 0.8% during the fourth quarter. Russell Investments Group Ltd. now owns 87,458 shares of the company’s stock valued at $1,822,000 after purchasing an additional 698 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in 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 in the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

International Money Express Trading Down 4.4 %

IMXI stock traded down $0.59 during trading on Friday, hitting $12.95. The company had a trading volume of 315,947 shares, compared to its average volume of 262,290. International Money Express has a 52-week low of $12.82 and a 52-week high of $23.28. The company has a 50 day simple moving average of $16.55 and a 200-day simple moving average of $18.57. The firm has a market capitalization of $396.94 million, a P/E ratio of 7.23 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 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.