International Money Express (NASDAQ:IMXI) Stock Gets Price Target Cut from UBS Group

Key Points

• UBS cut its price target on International Money Express from $16 to $7 while maintaining a neutral rating; the new target implies 6.25% upside from the stock’s current price.
• Analyst sentiment is cautious: MarketBeat reports a consensus “Reduce” rating and a $7 average target, with one analyst rating the stock Hold and one Sell.
• IMXI shares fell 4.4% Thursday to $6.59, near their 52-week low of $5.93.

International Money Express (NASDAQ:IMXI - Get Free Report) had its price target reduced by equities researchers at UBS Group from $16.00 to $7.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's price objective indicates a potential upside of 6.25% from the company's current price.

IMXI has been the subject of a number of other reports. Weiss Ratings downgraded International Money Express from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, October 6th. Wall Street Zen upgraded shares of International Money Express from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $7.00.

International Money Express Trading Down 4.4%

Shares of NASDAQ:IMXI traded down $0.30 during midday trading on Thursday, reaching $6.59. 494,651 shares of the company's stock were exchanged, compared to its average volume of 543,393. International Money Express has a fifty-two week low of $5.93 and a fifty-two week high of $15.95. The stock has a market cap of $199.04 million, a price-to-earnings ratio of 11.24 and a beta of 0.83. The firm's 50 day simple moving average is $11.00 and its two-hundred day simple moving average is $13.92. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.53 and a quick ratio of 1.96.

Hedge Funds Weigh In On International Money Express

A number of large investors have recently modified their holdings of the company. Parallel Advisors LLC boosted its position in International Money Express by 72.3% during the 3rd quarter. Parallel Advisors LLC now owns 5,311 shares of the company's stock worth $62,000 after purchasing an additional 2,229 shares during the period. Signaturefd LLC lifted its position in International Money Express by 427.4% during the 3rd quarter. Signaturefd LLC now owns 2,347 shares of the company's stock worth $27,000 after acquiring an additional 1,902 shares in the last quarter. Quadrant Capital Group LLC acquired a new position in International Money Express during the 3rd quarter worth approximately $187,000. Kapitalo Investimentos Ltda acquired a new position in International Money Express during the 3rd quarter worth approximately $1,803,000. Finally, State of Alaska Department of Revenue lifted its position in International Money Express by 14.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 10,361 shares of the company's stock worth $119,000 after acquiring an additional 1,313 shares in the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

International Money Express Company Profile

International Money Express, Inc., known as Intermex, provides money-transfer services for individuals sending funds across international borders. The company connects customers with recipients through a network of retail agent locations and digital channels. Intermex primarily serves transfers from the United States and other markets to countries in Latin America and the Caribbean. Depending on the destination, recipients can collect funds in cash or receive them through options such as a bank deposit or mobile wallet.

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