Monness Crespi & Hardt Downgrades International Money Express (NASDAQ:IMXI) to Neutral

International Money Express (NASDAQ:IMXI) was downgraded by stock analysts at Monness Crespi & Hardt from a “buy” rating to a “neutral” rating in a research note issued on Thursday, MarketBeat.com reports.

A number of other equities research analysts have also weighed in on IMXI. BMO Capital Markets boosted their target price on shares of International Money Express from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Needham & Company LLC boosted their price objective on shares of International Money Express from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Northland Securities increased their price objective on International Money Express from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, Oppenheimer initiated coverage on International Money Express in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $27.00.

International Money Express Stock Performance

Shares of IMXI stock opened at $19.59 on Thursday. The firm has a market capitalization of $609.25 million, a price-to-earnings ratio of 10.94 and a beta of 0.89. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.12. The business’s 50-day moving average price is $20.87 and its 200-day moving average price is $19.48. International Money Express has a 12 month low of $16.17 and a 12 month high of $23.28.

Hedge Funds Weigh In On International Money Express

A number of hedge funds have recently bought and sold shares of IMXI. nVerses Capital LLC grew its holdings in International Money Express by 133.3% during 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 during the period. Quarry LP boosted its position in shares of International Money Express by 113.7% during the 2nd quarter. Quarry LP now owns 4,760 shares of the company’s stock valued at $99,000 after purchasing an additional 2,533 shares in the last quarter. SG Americas Securities LLC grew its stake in International Money Express by 23.4% during 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 during the period. Meeder Asset Management Inc. increased its holdings in International Money Express by 90.7% in the third quarter. Meeder Asset Management Inc. now owns 11,560 shares of the company’s stock worth $214,000 after purchasing an additional 5,499 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in International Money Express by 973.4% in the second quarter. Cubist Systematic Strategies LLC now owns 18,580 shares of the company’s stock valued at $387,000 after buying an additional 16,849 shares during the period. Institutional investors own 86.71% of the company’s stock.

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.