Hsbc Holdings PLC Purchases 234,612 Shares of International Money Express, Inc. $IMXI

Key Points

• HSBC increased its International Money Express stake by 41.9% in the second quarter, purchasing 234,612 shares and bringing its holdings to 795,197 shares, or 2.63% of IMXI.
• Institutional ownership is substantial at 86.71%, with BlackRock, AllianceBernstein, Magnetar Financial, Man Group and Fort Baker Capital Management also reporting significant positions or new investments.
• IMXI shares opened at $14.41, while analyst sentiment remains cautious: one analyst rates the stock Hold and another Sell, resulting in a consensus rating of “Reduce.”

Hsbc Holdings PLC grew its position in shares of International Money Express, Inc. (NASDAQ:IMXI - Free Report) by 41.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 795,197 shares of the company's stock after buying an additional 234,612 shares during the quarter. Hsbc Holdings PLC owned 2.63% of International Money Express worth $11,487,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of International Money Express in the second quarter worth $33,315,000. Alliancebernstein L.P. lifted its position in International Money Express by 6,041.0% during the third quarter. Alliancebernstein L.P. now owns 2,060,904 shares of the company's stock valued at $28,791,000 after purchasing an additional 2,027,344 shares during the period. Magnetar Financial LLC boosted its holdings in International Money Express by 2.4% in the fourth 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 during the last quarter. Man Group plc bought a new stake in International Money Express in the 2nd quarter worth approximately $18,097,000. Finally, Fort Baker Capital Management LP purchased a new stake in International Money Express during the 4th quarter valued at $14,616,000. Institutional investors own 86.71% of the company's stock.

International Money Express Price Performance

Shares of NASDAQ:IMXI opened at $14.41 on Wednesday. The company has a market capitalization of $435.35 million, a P/E ratio of 23.24 and a beta of 0.77. International Money Express, Inc. has a 1-year low of $11.15 and a 1-year high of $15.95. The firm's 50 day simple moving average is $13.62 and its two-hundred day simple moving average is $14.80. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.96 and a quick ratio of 1.96.

Wall Street Analyst Weigh In

IMXI has been the topic of a number of research reports. Weiss Ratings downgraded International Money Express from a "hold (c)" rating to a "sell (d+)" rating in a research note on Friday. Wall Street Zen raised International Money Express from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock 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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