Carmignac Gestion Increases Position in International Money Express, Inc. $IMXI

Key Points

• Carmignac Gestion increased its International Money Express stake by 202.7% in the first quarter, holding 138,650 shares worth about $2.19 million. Institutional investors collectively own 86.71% of IMXI.
• IMXI reported weak quarterly results, with adjusted earnings of $0.13 per share versus the $0.41 consensus estimate and revenue of $121.95 million, below expectations of $141.02 million.
• Analyst sentiment has deteriorated: Weiss Ratings and Wall Street Zen downgraded the stock to “sell,” while MarketBeat reports an overall “Reduce” rating. Shares opened at $11.86, below their 50-day and 200-day moving averages.

Carmignac Gestion raised its holdings in International Money Express, Inc. (NASDAQ:IMXI - Free Report) by 202.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 138,650 shares of the company's stock after acquiring an additional 92,848 shares during the period. Carmignac Gestion owned approximately 0.46% of International Money Express worth $2,191,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Groupe la Francaise boosted its holdings in shares of International Money Express by 69.4% during the 1st quarter. Groupe la Francaise now owns 182,941 shares of the company's stock worth $2,890,000 after purchasing an additional 74,941 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of International Money Express by 398.7% in the first quarter. Bank of America Corp DE now owns 102,951 shares of the company's stock valued at $1,627,000 after purchasing an additional 82,307 shares during the last quarter. Empowered Funds LLC purchased a new position in International Money Express during the first quarter worth approximately $209,000. Quantinno Capital Management LP lifted its position in International Money Express by 21.5% during the first quarter. Quantinno Capital Management LP now owns 64,741 shares of the company's stock worth $1,023,000 after buying an additional 11,458 shares in the last quarter. Finally, Polar Asset Management Partners Inc. boosted its stake in International Money Express by 5.2% during the first quarter. Polar Asset Management Partners Inc. now owns 299,876 shares of the company's stock worth $4,738,000 after buying an additional 14,900 shares during the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

International Money Express Stock Performance

International Money Express stock opened at $11.86 on Monday. The firm has a 50 day simple moving average of $14.23 and a 200-day simple moving average of $15.17. The stock has a market cap of $356.87 million, a price-to-earnings ratio of 13.95 and a beta of 0.76. The company has a debt-to-equity ratio of 1.57, a current ratio of 2.84 and a quick ratio of 2.84. International Money Express, Inc. has a 1-year low of $8.58 and a 1-year high of $15.95.

International Money Express (NASDAQ:IMXI - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.28). International Money Express had a net margin of 4.34% and a return on equity of 23.26%. The firm had revenue of $121.95 million for the quarter, compared to analysts' expectations of $141.02 million. On average, analysts expect that International Money Express, Inc. will post 1.95 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Weiss Ratings cut International Money Express from a "hold (c)" rating to a "sell (d+)" rating in a report on Tuesday, May 12th. Wall Street Zen lowered International Money Express from a "hold" rating to a "sell" rating in a report on Saturday, July 4th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, International Money Express presently has an average rating of "Reduce".

International Money Express Company 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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