INTERNATIONAL MONEY EXPRESS, INC. $IMXI Shares Sold by Lord Abbett & CO. LLC

Key Points

• Lord Abbett & CO. LLC significantly reduced its holdings in International Money Express, selling 342,257 shares and decreasing its ownership by 87.2% in the first quarter, leaving them with 50,282 shares valued at $635,000.
• Institutional and hedge fund investors collectively own 86.71% of International Money Express stock, with several new positions acquired and one major investor increasing its holdings by 41.6% during the same quarter.
• Equities analysts have issued a mix of ratings for IMXI, with Northland cutting the stock from a "strong-buy" to a "hold," while UBS lowered its price target from $17.00 to $12.00, reflecting diverse market sentiments.

Lord Abbett & CO. LLC lessened its stake in INTERNATIONAL MONEY EXPRESS, INC. (NASDAQ:IMXI - Free Report) by 87.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,282 shares of the company's stock after selling 342,257 shares during the quarter. Lord Abbett & CO. LLC owned 0.17% of INTERNATIONAL MONEY EXPRESS worth $635,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Voss Capital LP boosted its position in INTERNATIONAL MONEY EXPRESS by 6.5% during the fourth quarter. Voss Capital LP now owns 1,825,000 shares of the company's stock worth $38,015,000 after purchasing an additional 111,562 shares in the last quarter. LSV Asset Management raised its stake in shares of INTERNATIONAL MONEY EXPRESS by 4.0% during the 1st quarter. LSV Asset Management now owns 1,126,303 shares of the company's stock worth $14,214,000 after buying an additional 43,523 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of INTERNATIONAL MONEY EXPRESS by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 850,766 shares of the company's stock worth $17,725,000 after buying an additional 2,292 shares in the last quarter. Royce & Associates LP grew its stake in INTERNATIONAL MONEY EXPRESS by 0.6% in the 1st quarter. Royce & Associates LP now owns 648,711 shares of the company's stock valued at $8,187,000 after acquiring an additional 4,001 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in INTERNATIONAL MONEY EXPRESS by 31.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 326,180 shares of the company's stock valued at $6,794,000 after acquiring an additional 77,515 shares during the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

INTERNATIONAL MONEY EXPRESS Trading Down 0.0%

IMXI traded down $0.0050 during trading on Thursday, hitting $14.5350. The company's stock had a trading volume of 550,063 shares, compared to its average volume of 440,593. The firm's 50 day moving average price is $10.63 and its 200-day moving average price is $12.46. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.63 and a quick ratio of 1.63. INTERNATIONAL MONEY EXPRESS, INC. has a twelve month low of $8.58 and a twelve month high of $22.37. The stock has a market cap of $431.40 million, a PE ratio of 8.87 and a beta of 1.02.

Wall Street Analyst Weigh In

Several analysts have issued reports on IMXI shares. Northland Capmk downgraded shares of INTERNATIONAL MONEY EXPRESS from a "strong-buy" rating to a "hold" rating in a report on Monday, August 11th. Wall Street Zen upgraded INTERNATIONAL MONEY EXPRESS from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. UBS Group reduced their target price on INTERNATIONAL MONEY EXPRESS from $17.00 to $12.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Finally, BMO Capital Markets downgraded 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. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $19.60.

INTERNATIONAL MONEY EXPRESS Company 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.