Polar Asset Management Partners Inc. Buys Shares of 150,000 International Money Express, Inc. $IMXI

Key Points

• Polar Asset Management Partners bought 150,000 shares of International Money Express (IMXI) in Q3 — about $2.096 million and roughly 0.50% of the company — while several other hedge funds also established or grew positions, leaving institutional investors with about 86.71% ownership.
• IMXI missed expectations last quarter, reporting EPS of $0.41 versus a $0.53 consensus and revenue of $147.41M versus $162.95M, though it still posted a 5.38% net margin and a 29.0% return on equity.
• Analysts have a consensus Hold rating with an average target of $14.33 (Weiss upgraded from "sell" to "hold"); the stock recently traded around $15.76 near its 52‑week high and carries a P/E of 14.59 and a ~$475M market cap.

Polar Asset Management Partners Inc. bought a new stake in shares of International Money Express, Inc. (NASDAQ:IMXI - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 150,000 shares of the company's stock, valued at approximately $2,096,000. Polar Asset Management Partners Inc. owned about 0.50% of International Money Express as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Alpine Associates Management Inc. purchased a new position in International Money Express during the third quarter valued at $5,848,000. Credit Industriel ET Commercial bought a new stake in International Money Express in the third quarter worth $1,006,000. Envestnet Asset Management Inc. grew its stake in shares of International Money Express by 89.2% in the second quarter. Envestnet Asset Management Inc. now owns 40,275 shares of the company's stock worth $406,000 after acquiring an additional 18,984 shares during the last quarter. Olympiad Research LP purchased a new stake in shares of International Money Express in the third quarter worth $964,000. Finally, ABC Arbitrage SA bought a new position in shares of International Money Express during the third quarter valued at $2,507,000. 86.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of International Money Express from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, March 4th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, International Money Express currently has a consensus rating of "Hold" and an average target price of $14.33.

International Money Express Price Performance

Shares of NASDAQ:IMXI opened at $15.76 on Friday. International Money Express, Inc. has a fifty-two week low of $8.58 and a fifty-two week high of $15.81. The business has a 50-day simple moving average of $15.61 and a two-hundred day simple moving average of $15.15. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.51 and a current ratio of 2.51. The firm has a market cap of $475.01 million, a price-to-earnings ratio of 14.59 and a beta of 0.86.

International Money Express (NASDAQ:IMXI - Get Free Report) last announced its quarterly earnings results on Friday, March 6th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.12). The company had revenue of $147.41 million for the quarter, compared to analysts' expectations of $162.95 million. International Money Express had a net margin of 5.38% and a return on equity of 29.00%. On average, analysts expect that International Money Express, Inc. will post 1.97 earnings per share for the current year.

International Money Express Company Profile

International Money Express, Inc NASDAQ: IMXI is a U.S.-based financial services company specializing in cross-border money transfers and digital payment solutions. Through its proprietary IMX platform, the company enables person-to-person transfers, bill payments and cash disbursement services. Its digital offerings include a mobile app and web portal that allow customers to send funds securely to relatives and businesses in multiple countries.

The company operates a network of thousands of agent locations across key remittance corridors in Latin America, the Caribbean and parts of the Asia-Pacific region.

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