International Money Express, Inc. $IMXI Stake Lifted by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP significantly increased its stake in INTERNATIONAL MONEY EXPRESS, INC. by 339.6%, owning 23,936 shares valued at approximately $302,000 following the first quarter.
• Several institutional investors, including the New York State Common Retirement Fund, have also increased their holdings, leading to 86.71% of the stock being owned by institutional investors.
• Analysts have mixed views on the stock, with revisions including price target reductions by UBS Group and BMO Capital Markets, while Wall Street Zen upgraded it to a "buy" rating.

Quantbot Technologies LP grew its holdings in shares of International Money Express, Inc. (NASDAQ:IMXI - Free Report) by 339.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,936 shares of the company's stock after purchasing an additional 18,491 shares during the period. Quantbot Technologies LP owned about 0.08% of International Money Express worth $302,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. American Century Companies Inc. increased its stake in shares of International Money Express by 45.7% during the first quarter. American Century Companies Inc. now owns 367,139 shares of the company's stock worth $4,633,000 after buying an additional 115,239 shares during the period. HighTower Advisors LLC acquired a new stake in shares of International Money Express during the first quarter worth $161,000. Nuveen LLC acquired a new stake in shares of International Money Express during the first quarter worth $990,000. Aigen Investment Management LP acquired a new stake in shares of International Money Express during the first quarter worth $196,000. Finally, Invesco Ltd. lifted its holdings in International Money Express by 3.3% in the first quarter. Invesco Ltd. now owns 68,837 shares of the company's stock valued at $869,000 after acquiring an additional 2,194 shares during the period. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

International Money Express Price Performance

NASDAQ:IMXI remained flat at $14.50 during mid-day trading on Monday. The company's stock had a trading volume of 248,442 shares, compared to its average volume of 1,294,726. The stock's fifty day moving average price is $11.23 and its two-hundred day moving average price is $12.18. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.63 and a current ratio of 1.63. International Money Express, Inc. has a 12-month low of $8.58 and a 12-month high of $22.37. The company has a market cap of $430.42 million, a PE ratio of 8.84 and a beta of 0.96.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on IMXI shares. Zacks Research cut International Money Express from a "hold" rating to a "strong sell" rating in a research report on Monday, August 25th. Northland Capmk cut International Money Express from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 11th. BMO Capital Markets cut International Money Express from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $18.00 to $11.00 in a research report on Friday, May 9th. UBS Group dropped their price objective on 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. Finally, Wall Street Zen upgraded International Money Express from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, International Money Express currently has a consensus rating of "Hold" and a consensus 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.