INTERNATIONAL MONEY EXPRESS, INC. (NASDAQ:IMXI) Stock Position Lowered by Investment Management Associates Inc. ADV

Investment Management Associates Inc. ADV trimmed its holdings in shares of INTERNATIONAL MONEY EXPRESS, INC. (NASDAQ:IMXI - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 826,721 shares of the company's stock after selling 72,511 shares during the quarter. INTERNATIONAL MONEY EXPRESS makes up approximately 4.3% of Investment Management Associates Inc. ADV's investment portfolio, making the stock its 9th largest position. Investment Management Associates Inc. ADV owned approximately 2.70% of INTERNATIONAL MONEY EXPRESS worth $10,433,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Penserra Capital Management LLC boosted its holdings in INTERNATIONAL MONEY EXPRESS by 5.9% in the 1st quarter. Penserra Capital Management LLC now owns 49,032 shares of the company's stock worth $618,000 after buying an additional 2,726 shares during the last quarter. LB Partners LLC purchased a new position in shares of INTERNATIONAL MONEY EXPRESS in the first quarter valued at approximately $1,974,000. ABS Direct Equity Fund LLC boosted its stake in shares of INTERNATIONAL MONEY EXPRESS by 33.3% in the first quarter. ABS Direct Equity Fund LLC now owns 100,000 shares of the company's stock worth $1,262,000 after acquiring an additional 25,000 shares during the last quarter. Rhumbline Advisers increased its position in shares of INTERNATIONAL MONEY EXPRESS by 11.4% during the first quarter. Rhumbline Advisers now owns 50,607 shares of the company's stock worth $639,000 after purchasing an additional 5,189 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in INTERNATIONAL MONEY EXPRESS by 7,708.8% in the 1st quarter. GAMMA Investing LLC now owns 6,247 shares of the company's stock valued at $790,000 after purchasing an additional 6,167 shares during the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group lowered their target price on shares of 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. BMO Capital Markets downgraded shares of INTERNATIONAL MONEY EXPRESS from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $18.00 to $11.00 in a research note on Friday, May 9th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 price objective on shares of INTERNATIONAL MONEY EXPRESS in a research note on Monday, April 7th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $19.60.

INTERNATIONAL MONEY EXPRESS Trading Up 0.7%

Shares of IMXI traded up $0.07 during midday trading on Friday, reaching $10.30. The company had a trading volume of 280,962 shares, compared to its average volume of 302,969. INTERNATIONAL MONEY EXPRESS, INC. has a 1-year low of $9.76 and a 1-year high of $22.38. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.18. The firm has a 50 day simple moving average of $10.83 and a 200-day simple moving average of $14.23. The stock has a market cap of $310.34 million, a PE ratio of 6.09 and a beta of 1.04.

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.