International Money Express, Inc. (NASDAQ:IMXI) Sees Significant Growth in Short Interest

by · The Markets Daily

International Money Express, Inc. (NASDAQ:IMXI – Get Free Report) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,010,000 shares, an increase of 19.2% from the August 15th total of 847,400 shares. Based on an average trading volume of 301,100 shares, the short-interest ratio is currently 3.4 days. Currently, 3.5% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of research firms have weighed in on IMXI. Needham & Company LLC cut their target price on shares of International Money Express from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Northland Securities cut their target price on shares of 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 reissued a “neutral” rating on shares of International Money Express in a research report on Wednesday, August 7th. Two investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.17.

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Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IMXI. Charles Schwab Investment Management Inc. increased its stake in International Money Express by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 265,611 shares of the company’s stock valued at $5,867,000 after acquiring an additional 2,201 shares during the period. BNP Paribas Financial Markets grew its stake in International Money Express by 13.0% during the fourth quarter. BNP Paribas Financial Markets now owns 47,010 shares of the company’s stock worth $1,038,000 after buying an additional 5,413 shares during the last quarter. Jump Financial LLC acquired a new position in shares of International Money Express during the fourth quarter worth approximately $501,000. Principal Financial Group Inc. lifted its position in shares of International Money Express by 30.9% during the fourth quarter. Principal Financial Group Inc. now owns 23,941 shares of the company’s stock worth $529,000 after purchasing an additional 5,657 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in International Money Express in the fourth quarter valued at approximately $4,009,000. Institutional investors own 86.71% of the company’s stock.

International Money Express Stock Performance

Shares of NASDAQ:IMXI traded up $0.14 on Tuesday, hitting $18.86. 264,417 shares of the company were exchanged, compared to its average volume of 254,196. The company’s 50 day moving average price is $18.99 and its two-hundred day moving average price is $20.32. International Money Express has a one year low of $15.76 and a one year high of $23.28. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market capitalization of $615.59 million, a price-to-earnings ratio of 11.21 and a beta of 0.82.

International Money Express (NASDAQ:IMXI – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). International Money Express had a return on equity of 43.97% and a net margin of 8.78%. The company had revenue of $171.53 million for the quarter, compared to the consensus estimate of $174.89 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. Research analysts expect that International Money Express will post 1.98 earnings per share for the current year.

International Money Express Company Profile

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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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