Assenagon Asset Management S.A. Increases Position in International Money Express, Inc. $IMXI

Key Points

• Assenagon Asset Management boosted its stake in IMXI by 2,440.9% in Q4 to 340,402 shares (about 1.15% of the company, ~$5.23M), and other hedge funds like AllianceBernstein and Magnetar also added large positions, leaving 86.71% of the stock held by institutions.
• International Money Express missed its most recent quarter—EPS $0.41 vs. $0.53 estimate and revenue $147.41M vs. $162.95M—while reporting a 5.38% net margin and 29.0% return on equity.
• Analyst sentiment is muted with a consensus Hold and $14.33 target after Weiss upgraded the rating from sell to hold; IMXI trades around $15.79 with a market cap near $476M and a 52-week range of $8.58–$15.90.

Assenagon Asset Management S.A. grew its position in shares of International Money Express, Inc. (NASDAQ:IMXI - Free Report) by 2,440.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 340,402 shares of the company's stock after purchasing an additional 327,005 shares during the period. Assenagon Asset Management S.A. owned approximately 1.15% of International Money Express worth $5,229,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of IMXI. Alliancebernstein L.P. increased its stake in International Money Express by 6,041.0% during the 3rd quarter. Alliancebernstein L.P. now owns 2,060,904 shares of the company's stock worth $28,791,000 after buying an additional 2,027,344 shares during the period. Magnetar Financial LLC grew its stake in shares of International Money Express by 3,580.7% in the third quarter. Magnetar Financial LLC now owns 1,871,975 shares of the company's stock worth $26,151,000 after acquiring an additional 1,821,116 shares in the last quarter. Geode Capital Management LLC increased its position in shares of International Money Express by 1.5% during the second quarter. Geode Capital Management LLC now owns 858,058 shares of the company's stock worth $8,659,000 after acquiring an additional 12,894 shares during the period. Man Group plc purchased a new stake in shares of International Money Express during the third quarter worth $7,921,000. Finally, Qube Research & Technologies Ltd raised its stake in shares of International Money Express by 113.8% in the third quarter. Qube Research & Technologies Ltd now owns 440,930 shares of the company's stock valued at $6,160,000 after acquiring an additional 234,727 shares in the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded International Money Express from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, International Money Express currently has an average rating of "Hold" and a consensus target price of $14.33.

International Money Express Price Performance

IMXI stock opened at $15.79 on Friday. The business has a 50 day moving average price of $15.65 and a 200 day moving average price of $15.21. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 1.31. The stock has a market cap of $475.91 million, a price-to-earnings ratio of 14.62 and a beta of 0.86. International Money Express, Inc. has a fifty-two week low of $8.58 and a fifty-two week high of $15.90.

International Money Express (NASDAQ:IMXI - Get Free Report) last issued its earnings results on Friday, March 6th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.12). International Money Express had a net margin of 5.38% and a return on equity of 29.00%. The company had revenue of $147.41 million during the quarter, compared to analyst estimates of $162.95 million. Equities research analysts anticipate that International Money Express, Inc. will post 1.97 earnings per share for the current fiscal year.

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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