International Money Express, Inc. (NASDAQ:IMXI) Short Interest Up 5.6% in September

by · The Cerbat Gem

International Money Express, Inc. (NASDAQ:IMXI – Get Free Report) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 1,140,000 shares, an increase of 5.6% from the September 15th total of 1,080,000 shares. Currently, 3.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 317,600 shares, the days-to-cover ratio is currently 3.6 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. nVerses Capital LLC grew its stake in International Money Express by 133.3% in the 3rd quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock worth $39,000 after acquiring an additional 1,200 shares in the last quarter. CWM LLC lifted its holdings in shares of International Money Express by 201.7% during the second quarter. CWM LLC now owns 3,394 shares of the company’s stock worth $71,000 after purchasing an additional 2,269 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in International Money Express during the second quarter valued at $91,000. Quarry LP boosted its stake in shares of International Money Express by 113.7% in the second quarter. Quarry LP now owns 4,760 shares of the company’s stock worth $99,000 after buying an additional 2,533 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its position in International Money Express by 1,277.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 6,061 shares of the company’s stock worth $126,000 after purchasing an additional 5,621 shares in the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

International Money Express Stock Performance

International Money Express stock opened at $18.38 on Thursday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 1.57. International Money Express has a twelve month low of $15.76 and a twelve month high of $23.28. The company’s 50-day moving average price is $17.80 and its 200-day moving average price is $19.85. The company has a market cap of $599.92 million, a PE ratio of 11.01 and a beta of 0.81.

International Money Express (NASDAQ:IMXI – Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The company had revenue of $171.53 million for the quarter, compared to analysts’ expectations of $174.89 million. International Money Express had a net margin of 8.78% and a return on equity of 43.97%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.46 earnings per share. On average, equities research analysts forecast that International Money Express will post 1.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on IMXI shares. Oppenheimer began coverage on shares of International Money Express in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. Needham & Company LLC decreased their price target on shares of International Money Express from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Northland Securities cut their price objective on International Money Express from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of International Money Express in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.17.

Read Our Latest Analysis on IMXI

About International Money Express

(Get Free Report)

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.

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