2,305,506 Shares in International Money Express, Inc. $IMXI Purchased by BlackRock Inc.

Key Points

• BlackRock acquired 2,305,506 shares of International Money Express during the second quarter, worth approximately $33.3 million and representing about 7.66% of the company.
• Institutional investors and hedge funds own 86.71% of IMXI, with several firms recently initiating or increasing positions.
• IMXI shares opened at $14.41, while analysts maintain a consensus “Hold” rating after recent upgrades from “Sell” to “Hold.”

BlackRock Inc. bought a new stake in International Money Express, Inc. (NASDAQ:IMXI - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,305,506 shares of the company's stock, valued at approximately $33,315,000. BlackRock Inc. owned about 7.66% of International Money Express as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of IMXI. Raymond James Financial Inc. purchased a new stake in shares of International Money Express in the 2nd quarter valued at $40,000. Longfellow Investment Management Co. LLC acquired a new stake in shares of International Money Express in the second quarter worth $70,000. Parallel Advisors LLC raised its holdings in shares of International Money Express by 123.5% during the first quarter. Parallel Advisors LLC now owns 6,953 shares of the company's stock worth $110,000 after purchasing an additional 3,842 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of International Money Express by 31.2% during the fourth quarter. Russell Investments Group Ltd. now owns 7,734 shares of the company's stock worth $119,000 after purchasing an additional 1,840 shares during the last quarter. Finally, PenderFund Capital Management Ltd. acquired a new position in International Money Express during the third quarter valued at $133,000. Institutional investors and hedge funds own 86.71% of the company's stock.

International Money Express Stock Down 0.4%

Shares of NASDAQ IMXI opened at $14.41 on Wednesday. The company's 50-day simple moving average is $13.58 and its 200-day simple moving average is $14.84. International Money Express, Inc. has a 52-week low of $11.15 and a 52-week high of $15.95. The firm has a market cap of $435.33 million, a price-to-earnings ratio of 23.24 and a beta of 0.77. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.76.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings raised shares of International Money Express from a "sell (d+)" rating to a "hold (c)" rating in a report on Friday, August 21st. Wall Street Zen upgraded International Money Express from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold".

International Money Express Profile

International Money Express, Inc NASDAQ: IMXI is a U.S.-based financial services company specializing in cross-border money transfers and digital payment solutions. Through its proprietary IMX platform, the company enables person-to-person transfers, bill payments and cash disbursement services. Its digital offerings include a mobile app and web portal that allow customers to send funds securely to relatives and businesses in multiple countries.

The company operates a network of thousands of agent locations across key remittance corridors in Latin America, the Caribbean and parts of the Asia-Pacific region.

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