ABS Direct Equity Fund LLC Boosts Stock Position in International Money Express, Inc. (NASDAQ:IMXI)

ABS Direct Equity Fund LLC boosted its position in shares of International Money Express, Inc. (NASDAQ:IMXI - Free Report) by 33.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,000 shares of the company's stock after acquiring an additional 25,000 shares during the period. International Money Express accounts for about 1.7% of ABS Direct Equity Fund LLC's holdings, making the stock its 21st biggest position. ABS Direct Equity Fund LLC owned 0.33% of International Money Express worth $1,262,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in IMXI. Principal Financial Group Inc. grew its position in International Money Express by 11.0% during the 4th quarter. Principal Financial Group Inc. now owns 38,011 shares of the company's stock worth $792,000 after acquiring an additional 3,753 shares during the last quarter. Investment Management Associates Inc. ADV boosted its stake in International Money Express by 1.9% during the 4th quarter. Investment Management Associates Inc. ADV now owns 899,232 shares of the company's stock valued at $18,731,000 after purchasing an additional 16,530 shares during the last quarter. Bank of New York Mellon Corp lifted its position in International Money Express by 11.1% during the fourth quarter. Bank of New York Mellon Corp now owns 114,030 shares of the company's stock valued at $2,375,000 after purchasing an additional 11,388 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of International Money Express during the 4th quarter valued at about $332,000. Finally, New South Capital Management Inc. raised its stake in shares of International Money Express by 22.7% in the fourth quarter. New South Capital Management Inc. now owns 1,132,107 shares of the company's stock worth $23,582,000 after buying an additional 209,711 shares during the period. Hedge funds and other institutional investors own 86.71% of the company's stock.

International Money Express Stock Performance

Shares of IMXI opened at $10.28 on Friday. The company has a 50-day moving average of $11.61 and a two-hundred day moving average of $15.75. International Money Express, Inc. has a 12-month low of $10.07 and a 12-month high of $22.38. The stock has a market cap of $309.72 million, a P/E ratio of 5.74 and a beta of 1.08. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.12.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. BMO Capital Markets cut International Money Express from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $18.00 to $11.00 in a report on Friday, May 9th. UBS Group dropped their target price on shares of International Money Express from $17.00 to $12.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 price target on shares of International Money Express in a report on Monday, April 7th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $19.60.

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.

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