Bank of America Corp DE Buys 82,307 Shares of International Money Express, Inc. $IMXI

Key Points

• Bank of America increased its IMXI stake by 398.7% during the first quarter, acquiring 82,307 additional shares for a total of 102,951 shares valued at approximately $1.63 million.
• Institutional ownership remains high at 86.71%, with several hedge funds—including AllianceBernstein, Man Group, and Capula Management—also increasing or initiating positions.
• Analyst sentiment is cautious: two analysts rate International Money Express “Hold,” while the stock recently traded at $14.46, within its $11.15–$15.95 twelve-month range.

Bank of America Corp DE boosted its stake in shares of International Money Express, Inc. (NASDAQ:IMXI - Free Report) by 398.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,951 shares of the company's stock after acquiring an additional 82,307 shares during the quarter. Bank of America Corp DE owned 0.34% of International Money Express worth $1,627,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IMXI. Alliancebernstein L.P. grew its holdings in shares of International Money Express by 6,041.0% in the 3rd quarter. Alliancebernstein L.P. now owns 2,060,904 shares of the company's stock worth $28,791,000 after purchasing an additional 2,027,344 shares during the last quarter. Magnetar Financial LLC increased its position in shares of International Money Express by 2.4% during the 4th quarter. Magnetar Financial LLC now owns 1,916,571 shares of the company's stock worth $29,439,000 after purchasing an additional 44,596 shares in the last quarter. Man Group plc lifted its holdings in International Money Express by 103.4% during the 4th quarter. Man Group plc now owns 1,153,023 shares of the company's stock valued at $17,710,000 after purchasing an additional 586,044 shares during the last quarter. Fort Baker Capital Management LP bought a new position in International Money Express during the 4th quarter valued at about $14,616,000. Finally, Capula Management Ltd acquired a new position in International Money Express in the first quarter valued at about $9,957,000. 86.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IMXI has been the subject of a number of research analyst reports. Weiss Ratings upgraded shares of International Money Express from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, August 21st. Wall Street Zen upgraded International Money Express from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, International Money Express has an average rating of "Hold".

International Money Express Stock Performance

Shares of NASDAQ:IMXI opened at $14.46 on Friday. The business has a fifty day moving average of $13.62 and a 200-day moving average of $14.82. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.96 and a current ratio of 1.96. International Money Express, Inc. has a twelve month low of $11.15 and a twelve month high of $15.95. The firm has a market cap of $436.84 million, a PE ratio of 23.32 and a beta of 0.77.

About International Money Express

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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