International Money Express, Inc. (NASDAQ:IMXI) Short Interest Down 6.9% in November

International Money Express, Inc. (NASDAQ:IMXI) saw a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 977,800 shares, a drop of 6.9% from the November 15th total of 1,050,000 shares. Currently, 3.4% of the shares of the stock are sold short. Based on an average daily volume of 258,300 shares, the short-interest ratio is presently 3.8 days.

International Money Express Price Performance

Shares of IMXI opened at $21.87 on Wednesday. The firm has a 50-day simple moving average of $19.65 and a two-hundred day simple moving average of $19.48. The stock has a market cap of $680.14 million, a PE ratio of 12.22 and a beta of 0.88. International Money Express has a 1-year low of $16.17 and a 1-year high of $23.28. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.80 and a quick ratio of 1.80.

Analyst Ratings Changes

Several analysts recently commented on the company. Needham & Company LLC boosted their price target on International Money Express from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. BMO Capital Markets raised their target price on shares of International Money Express from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Monness Crespi & Hardt reduced their price objective on International Money Express from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Northland Securities upped their target price 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 assumed coverage on International Money Express in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, International Money Express presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

Institutional Trading of International Money Express

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new stake in shares of International Money Express in the third quarter valued at $633,000. American Century Companies Inc. boosted its holdings in International Money Express by 44.1% during the 2nd quarter. American Century Companies Inc. now owns 147,260 shares of the company’s stock valued at $3,069,000 after acquiring an additional 45,068 shares during the period. Forager Capital Management LLC grew its position 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 acquiring an additional 260,000 shares in the last quarter. First Eagle Investment Management LLC increased its stake in International Money Express by 46.9% during the second quarter. First Eagle Investment Management LLC now owns 477,273 shares of the company’s stock worth $9,946,000 after purchasing an additional 152,464 shares during the period. Finally, New South Capital Management Inc. acquired a new stake in shares of International Money Express during the third quarter worth about $17,055,000. Hedge funds and other 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.