Deutsche Bank AG Trims Stake in INTERNATIONAL MONEY EXPRESS, INC. $IMXI

Key Points

• Deutsche Bank AG significantly cut its stake in International Money Express by 45.3%, now holding only 24,268 shares valued at approximately $306,000.
• Institutional investors and hedge funds collectively own 86.71% of International Money Express, indicating strong institutional interest in the stock.
• Analysts have varied opinions on IMXI, with the consensus rating at "Hold" and an average target price of $19.60, reflecting uncertainty about the company’s performance.

Deutsche Bank AG cut its stake in INTERNATIONAL MONEY EXPRESS, INC. (NASDAQ:IMXI - Free Report) by 45.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,268 shares of the company's stock after selling 20,137 shares during the quarter. Deutsche Bank AG owned about 0.08% of INTERNATIONAL MONEY EXPRESS worth $306,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its position in INTERNATIONAL MONEY EXPRESS by 41.6% during the 1st quarter. New York State Common Retirement Fund now owns 10,218 shares of the company's stock valued at $129,000 after acquiring an additional 3,000 shares during the period. Legato Capital Management LLC bought a new stake in shares of INTERNATIONAL MONEY EXPRESS in the first quarter worth approximately $161,000. Aquatic Capital Management LLC bought a new stake in shares of INTERNATIONAL MONEY EXPRESS in the fourth quarter worth approximately $169,000. Lazard Asset Management LLC grew its position in INTERNATIONAL MONEY EXPRESS by 6.1% during the fourth quarter. Lazard Asset Management LLC now owns 11,361 shares of the company's stock valued at $235,000 after buying an additional 654 shares during the period. Finally, State of Wyoming grew its position in INTERNATIONAL MONEY EXPRESS by 33.5% during the fourth quarter. State of Wyoming now owns 14,316 shares of the company's stock valued at $298,000 after buying an additional 3,593 shares during the period. 86.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IMXI has been the subject of several recent research reports. Zacks Research lowered shares of INTERNATIONAL MONEY EXPRESS from a "hold" rating to a "strong sell" rating in a research report on Monday, August 25th. BMO Capital Markets lowered shares of INTERNATIONAL MONEY EXPRESS from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $18.00 to $11.00 in a research report on Friday, May 9th. UBS Group dropped their price target on shares of INTERNATIONAL MONEY EXPRESS from $17.00 to $12.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Northland Capmk lowered shares of INTERNATIONAL MONEY EXPRESS from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 11th. Finally, Wall Street Zen upgraded shares of INTERNATIONAL MONEY EXPRESS from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $19.60.

INTERNATIONAL MONEY EXPRESS Price Performance

INTERNATIONAL MONEY EXPRESS stock traded down $0.11 during mid-day trading on Thursday, reaching $14.57. 263,653 shares of the company's stock traded hands, compared to its average volume of 1,298,777. The company has a market cap of $432.44 million, a price-to-earnings ratio of 8.88 and a beta of 0.96. The stock has a 50 day moving average of $11.59 and a two-hundred day moving average of $12.16. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.13. INTERNATIONAL MONEY EXPRESS, INC. has a 12-month low of $8.58 and a 12-month high of $22.37.

About INTERNATIONAL MONEY EXPRESS

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.