JPMorgan Chase & Co. Increases Position in International Money Express, Inc. (NASDAQ:IMXI)

JPMorgan Chase & Co. grew its holdings in shares of International Money Express, Inc. (NASDAQ:IMXI) by 8.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 221,109 shares of the company’s stock after purchasing an additional 17,452 shares during the period. JPMorgan Chase & Co. owned approximately 0.71% of International Money Express worth $4,088,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in IMXI. Wellington Management Group LLP increased its position in International Money Express by 7.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,556,925 shares of the company’s stock valued at $28,788,000 after buying an additional 109,293 shares in the last quarter. Forager Capital Management LLC grew its stake in shares of International Money Express by 27.1% in the third quarter. Forager Capital Management LLC now owns 1,221,174 shares of the company’s stock worth $22,580,000 after acquiring an additional 260,000 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in shares of International Money Express by 17.2% during the third quarter. ArrowMark Colorado Holdings LLC now owns 994,925 shares of the company’s stock valued at $18,396,000 after acquiring an additional 145,686 shares in the last quarter. New South Capital Management Inc. purchased a new position in shares of International Money Express in the 3rd quarter worth about $17,055,000. Finally, Royce & Associates LP boosted its stake in International Money Express by 9.8% in the 3rd quarter. Royce & Associates LP now owns 557,189 shares of the company’s stock worth $10,302,000 after purchasing an additional 49,582 shares in the last quarter. 86.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Oppenheimer started coverage on shares of International Money Express in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. Monness Crespi & Hardt reduced their price target on shares of International Money Express from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, November 4th. BMO Capital Markets boosted their price objective 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. Northland Securities increased their target price on International Money Express from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, Needham & Company LLC lifted their target price on International Money Express from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

International Money Express Stock Down 0.8 %

IMXI opened at $21.04 on Friday. The stock has a market capitalization of $654.32 million, a price-to-earnings ratio of 11.75 and a beta of 0.89. The firm has a 50 day moving average price of $20.99 and a 200-day moving average price of $19.49. International Money Express, Inc. has a twelve month low of $16.17 and a twelve month high of $23.28. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.12.

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.