Magnetar Financial LLC Invests $580,000 in INTERNATIONAL MONEY EXPRESS, INC. $IMXI

Key Points

• Magnetar Financial LLC invested approximately $580,000 in International Money Express by purchasing 45,945 shares, representing 0.15% of the company.
• Several hedge funds have increased their stakes in International Money Express, with one firm, Hotchkis & Wiley, boosting their position by 92.8% in the first quarter.
• Analysts have varied opinions on IMXI's stock, with ratings ranging from a "strong sell" to a "buy," and the average price target set at $19.60.

Magnetar Financial LLC purchased a new position in shares of INTERNATIONAL MONEY EXPRESS, INC. (NASDAQ:IMXI - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 45,945 shares of the company's stock, valued at approximately $580,000. Magnetar Financial LLC owned 0.15% of INTERNATIONAL MONEY EXPRESS at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of INTERNATIONAL MONEY EXPRESS by 92.8% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 537,740 shares of the company's stock worth $6,786,000 after acquiring an additional 258,820 shares during the period. AlphaQuest LLC bought a new stake in shares of INTERNATIONAL MONEY EXPRESS during the 1st quarter worth approximately $278,000. Voss Capital LP lifted its holdings in shares of INTERNATIONAL MONEY EXPRESS by 6.7% during the 1st quarter. Voss Capital LP now owns 1,947,854 shares of the company's stock worth $24,582,000 after acquiring an additional 122,854 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of INTERNATIONAL MONEY EXPRESS by 3.6% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 28,700 shares of the company's stock worth $362,000 after acquiring an additional 1,000 shares during the period. Finally, Quantbot Technologies LP lifted its holdings in shares of INTERNATIONAL MONEY EXPRESS by 339.6% during the 1st quarter. Quantbot Technologies LP now owns 23,936 shares of the company's stock worth $302,000 after acquiring an additional 18,491 shares during the period. Institutional investors own 86.71% of the company's stock.

INTERNATIONAL MONEY EXPRESS Trading Down 0.6%

NASDAQ IMXI traded down $0.09 on Friday, hitting $14.48. The company's stock had a trading volume of 394,181 shares, compared to its average volume of 1,302,654. 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 1-year low of $8.58 and a 1-year high of $22.37. The company's 50-day moving average is $11.68 and its 200 day moving average is $12.09. The firm has a market cap of $429.77 million, a PE ratio of 8.83 and a beta of 0.96.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on IMXI shares. Zacks Research downgraded shares of INTERNATIONAL MONEY EXPRESS from a "hold" rating to a "strong sell" rating in a report on Monday, August 25th. BMO Capital Markets cut shares of INTERNATIONAL MONEY EXPRESS from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $18.00 to $11.00 in a research report on Friday, May 9th. 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. Northland Capmk cut shares of INTERNATIONAL MONEY EXPRESS from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 11th. Finally, UBS Group lowered their price objective 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. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, INTERNATIONAL MONEY EXPRESS has a consensus rating of "Hold" and an average target price of $19.60.

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.