Short Interest in International Money Express, Inc. (NASDAQ:IMXI) Drops By 7.8%

International Money Express, Inc. (NASDAQ:IMXI) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 1,190,000 shares, a drop of 7.8% from the October 15th total of 1,290,000 shares. Based on an average daily volume of 282,700 shares, the short-interest ratio is presently 4.2 days. Currently, 4.1% of the shares of the stock are sold short.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Northland Securities upped their price target on shares of International Money Express from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Oppenheimer began coverage on International Money Express in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. BTIG Research reiterated a “neutral” rating on shares of International Money Express in a research report on Wednesday, August 7th. Needham & Company LLC raised their price objective on International Money Express from $22.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, BMO Capital Markets upped 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. Two equities 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 has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

International Money Express Stock Down 0.9 %

Shares of NASDAQ:IMXI opened at $20.69 on Tuesday. International Money Express has a 52-week low of $16.17 and a 52-week high of $23.28. The company has a quick ratio of 1.88, a current ratio of 1.80 and a debt-to-equity ratio of 1.12. The business has a fifty day moving average of $18.42 and a two-hundred day moving average of $19.38. The stock has a market cap of $643.46 million, a P/E ratio of 11.75 and a beta of 0.82.

Institutional Investors Weigh In On International Money Express

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Forager Capital Management LLC boosted its holdings in International Money Express by 27.1% in the 3rd quarter. Forager Capital Management LLC now owns 1,221,174 shares of the company’s stock valued at $22,580,000 after purchasing an additional 260,000 shares during the last quarter. First Sabrepoint Capital Management LP acquired a new position in International Money Express in the third quarter valued at approximately $2,752,000. Bullseye Asset Management LLC grew its position in International Money Express by 3.1% in the third quarter. Bullseye Asset Management LLC now owns 236,692 shares of the company’s stock worth $4,376,000 after acquiring an additional 7,069 shares during the period. M&T Bank Corp increased its stake in International Money Express by 29.6% during the third quarter. M&T Bank Corp now owns 105,754 shares of the company’s stock worth $1,955,000 after acquiring an additional 24,175 shares during the last quarter. Finally, Barclays PLC raised its position in International Money Express by 137.1% in the third quarter. Barclays PLC now owns 73,260 shares of the company’s stock valued at $1,355,000 after purchasing an additional 42,367 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.

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.