Jacobs Levy Equity Management Inc. Has $1.77 Million Holdings in INTERNATIONAL MONEY EXPRESS, INC. $IMXI

Key Points

• Jacobs Levy Equity Management Inc. sold 159,204 shares of International Money Express, Inc., reducing its stake by 53.2% to 140,152 shares, valuing approximately $1.77 million at the end of the recent reporting period.
• A total of 86.71% of International Money Express shares are now owned by institutional investors and hedge funds, with Hotchkis & Wiley Capital Management LLC increasing its position by 92.8% during the first quarter.
• Analysts are divided on the stock, with ratings ranging from a "strong buy" to a "strong sell," resulting in an average rating of "Hold" and a price target of $19.60.

Jacobs Levy Equity Management Inc. reduced its holdings in shares of INTERNATIONAL MONEY EXPRESS, INC. (NASDAQ:IMXI - Free Report) by 53.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 140,152 shares of the company's stock after selling 159,204 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.47% of INTERNATIONAL MONEY EXPRESS worth $1,769,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of IMXI. Quarry LP bought a new stake in shares of INTERNATIONAL MONEY EXPRESS during the 1st quarter worth $31,000. New York State Common Retirement Fund raised its position in INTERNATIONAL MONEY EXPRESS by 41.6% in the first quarter. New York State Common Retirement Fund now owns 10,218 shares of the company's stock valued at $129,000 after purchasing an additional 3,000 shares during the last quarter. Legato Capital Management LLC bought a new position in INTERNATIONAL MONEY EXPRESS in the first quarter valued at about $161,000. HighTower Advisors LLC bought a new position in INTERNATIONAL MONEY EXPRESS in the first quarter valued at about $161,000. Finally, Aigen Investment Management LP bought a new position in INTERNATIONAL MONEY EXPRESS in the first quarter valued at about $196,000. 86.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Wall Street Zen upgraded INTERNATIONAL MONEY EXPRESS from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Northland Capmk downgraded INTERNATIONAL MONEY EXPRESS from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 11th. Finally, Zacks Research lowered INTERNATIONAL MONEY EXPRESS from a "hold" rating to a "strong sell" rating in a research note on Monday, August 25th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $19.60.

INTERNATIONAL MONEY EXPRESS Trading Up 0.1%

NASDAQ IMXI traded up $0.01 during trading hours on Tuesday, hitting $14.51. 312,985 shares of the company's stock were exchanged, compared to its average volume of 448,103. The stock has a 50-day simple moving average of $12.24 and a 200 day simple moving average of $11.97. INTERNATIONAL MONEY EXPRESS, INC. has a 1-year low of $8.58 and a 1-year high of $22.37. The firm has a market cap of $430.66 million, a price-to-earnings ratio of 8.85 and a beta of 0.96. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.13.

INTERNATIONAL MONEY EXPRESS Profile

International Money Express, Inc, together with its subsidiaries, operates as an omnichannel money remittance services company in the United States, Latin America, Mexico, Central and South America, the Caribbean, Africa, and Asia. The company offers remittance services, which include a suite of ancillary financial processing solutions and payment services; and online payment options, pre-paid debit cards, and direct deposit payroll cards.