Short Interest in International Money Express, Inc. (NASDAQ:IMXI) Expands By 7.9%

International Money Express, Inc. (NASDAQ:IMXI) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 637,400 shares, a growth of 7.9% from the May 31st total of 590,900 shares. Approximately 2.2% of the shares of the stock are sold short. Based on an average daily volume of 206,400 shares, the short-interest ratio is presently 3.1 days.

International Money Express Price Performance

Shares of IMXI stock opened at $20.51 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.68 and a quick ratio of 1.68. International Money Express has a 1-year low of $15.76 and a 1-year high of $26.25. The firm has a fifty day moving average of $20.67 and a two-hundred day moving average of $21.09. The firm has a market cap of $669.45 million, a P/E ratio of 12.28 and a beta of 0.84.

International Money Express (NASDAQ:IMXI) last issued its earnings results on Wednesday, May 8th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. International Money Express had a net margin of 9.02% and a return on equity of 43.75%. The company had revenue of $150.41 million for the quarter, compared to analysts’ expectations of $150.60 million. As a group, research analysts anticipate that International Money Express will post 2.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Ancora Advisors LLC increased its position in shares of International Money Express by 6.1% during the 1st quarter. Ancora Advisors LLC now owns 111,536 shares of the company’s stock valued at $2,546,000 after purchasing an additional 6,432 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in International Money Express by 12.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 262,078 shares of the company’s stock valued at $5,983,000 after purchasing an additional 28,207 shares during the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of International Money Express by 4.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 374,133 shares of the company’s stock valued at $8,541,000 after buying an additional 16,222 shares in the last quarter. Aristides Capital LLC acquired a new position in shares of International Money Express in the 1st quarter worth $342,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of International Money Express by 95.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 97,072 shares of the company’s stock valued at $2,217,000 after purchasing an additional 47,385 shares during the period. 86.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on IMXI. BMO Capital Markets raised their price target on International Money Express from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. BTIG Research initiated coverage on shares of International Money Express in a report on Monday, June 3rd. They set a “buy” rating and a $25.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price on shares of International Money Express in a research note on Thursday, May 9th. Finally, Monness Crespi & Hardt initiated coverage on shares of International Money Express in a research report on Wednesday, March 20th. They set a “buy” rating and a $27.00 price target for the company. Two research 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 presently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

About International Money Express

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.