AlphaQuest LLC Purchases New Holdings in International Money Express, Inc. $IMXI

Key Points

• AlphaQuest LLC has made a new investment in International Money Express, purchasing 22,059 shares valued at approximately $278,000, representing a 0.07% ownership stake.
• Multiple institutional investors have also increased their stakes in International Money Express, with notable acquisitions amounting to over $6 million in total among various firms in the recent quarters.
• The stock has experienced varying analyst ratings, with one firm lowering its rating from a "strong-buy" to a "hold," while the current average analyst rating stands at "hold" with a price target of $19.60.

AlphaQuest LLC purchased a new stake in shares of International Money Express, Inc. (NASDAQ:IMXI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 22,059 shares of the company's stock, valued at approximately $278,000. AlphaQuest LLC owned approximately 0.07% of International Money Express at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in shares of International Money Express by 51.0% in the 4th quarter. Wells Fargo & Company MN now owns 14,960 shares of the company's stock valued at $312,000 after buying an additional 5,050 shares in the last quarter. Invesco Ltd. boosted its position in International Money Express by 5.2% during the fourth quarter. Invesco Ltd. now owns 66,643 shares of the company's stock valued at $1,388,000 after purchasing an additional 3,322 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in shares of International Money Express in the fourth quarter valued at approximately $169,000. Northern Trust Corp raised its holdings in International Money Express by 3.6% in the 4th quarter. Northern Trust Corp now owns 290,815 shares of the company's stock valued at $6,058,000 after acquiring an additional 9,990 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in International Money Express in the fourth quarter valued at about $472,000. Institutional investors and hedge funds own 86.71% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Wall Street Zen upgraded shares of International Money Express from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. BMO Capital Markets downgraded International Money Express from an "outperform" rating to a "market perform" rating and cut their price target for the company from $18.00 to $11.00 in a research note on Friday, May 9th. Zacks Research downgraded shares of International Money Express from a "hold" rating to a "strong sell" rating in a research report on Monday, August 25th. Northland Capmk cut International Money Express from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 11th. Finally, UBS Group reduced their price objective on International Money Express from $17.00 to $12.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $19.60.

International Money Express Stock Performance

NASDAQ:IMXI remained flat at $14.52 during midday trading on Wednesday. 58,552 shares of the company were exchanged, compared to its average volume of 441,459. The business has a 50 day moving average of $11.41 and a two-hundred day moving average of $12.17. The firm has a market capitalization of $430.95 million, a PE ratio of 8.85 and a beta of 0.96. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.13. International Money Express, Inc. has a 52 week low of $8.58 and a 52 week high of $22.37.

International Money Express Profile

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.