Hsbc Holdings PLC Takes $11.49 Million Position in International Money Express, Inc. $IMXI

Key Points

• Hsbc Holdings PLC acquired a new 2.64% stake in International Money Express, purchasing 795,197 shares valued at approximately $11.49 million.
• Institutional ownership remains high at 86.71%, with BlackRock, AllianceBernstein, Magnetar Financial and Man Group among other significant investors increasing or initiating positions.
• IMXI shares opened at $14.47, compared with a 52-week range of $11.15 to $15.95. Analysts currently have a consensus “Hold” rating after two research firms upgraded the stock from “Sell.”

Hsbc Holdings PLC bought a new stake in shares of International Money Express, Inc. (NASDAQ:IMXI - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 795,197 shares of the company's stock, valued at approximately $11,487,000. Hsbc Holdings PLC owned 2.64% of International Money Express as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in International Money Express in the second quarter valued at approximately $33,315,000. Alliancebernstein L.P. lifted its position in shares of 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 worth $28,791,000 after purchasing an additional 2,027,344 shares in the last quarter. Magnetar Financial LLC lifted its position in shares of International Money Express by 2.4% during 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 in the last quarter. Man Group plc boosted its stake in shares of International Money Express by 103.4% in the fourth 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 period. Finally, Fort Baker Capital Management LP purchased a new position in shares of International Money Express in the fourth quarter valued at $14,616,000. 86.71% of the stock is owned by institutional investors and hedge funds.

International Money Express Price Performance

IMXI stock opened at $14.47 on Friday. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.76. International Money Express, Inc. has a 52-week low of $11.15 and a 52-week high of $15.95. The stock's 50 day moving average is $13.56 and its two-hundred day moving average is $14.86. The company has a market capitalization of $437.14 million, a PE ratio of 23.34 and a beta of 0.76.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of International Money Express from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Weiss Ratings raised shares of International Money Express from a "sell (d+)" rating to a "hold (c)" rating in a research report on Friday, August 21st. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, International Money Express presently has an average rating of "Hold".

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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