Vanguard Group Inc. Decreases Position in International Money Express, Inc. $IMXI

Key Points

• Vanguard Group Inc. has reduced its holdings in INTERNATIONAL MONEY EXPRESS by 1.5%, selling 32,770 shares during the first quarter, and now owns about 6.96% of the company worth $26.4 million.
• Notable increases in holdings were reported by hedge funds, including GAMMA Investing LLC, which raised its position by a staggering 7,708.8%.
• Brokerages have issued mixed ratings, with BMO Capital Markets lowering its price target from $18 to $11, while Wall Street Zen upgraded the stock from "hold" to "buy."

Vanguard Group Inc. decreased its holdings in International Money Express, Inc. (NASDAQ:IMXI - Free Report) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,095,832 shares of the company's stock after selling 32,770 shares during the period. Vanguard Group Inc. owned 6.96% of International Money Express worth $26,449,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. LSV Asset Management lifted its position in shares of International Money Express by 4.0% in the first 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 in the last quarter. Seizert Capital Partners LLC lifted its position in shares of International Money Express by 56.6% in the first quarter. Seizert Capital Partners LLC now owns 272,135 shares of the company's stock worth $3,434,000 after buying an additional 98,394 shares in the last quarter. Vestcor Inc lifted its position in shares of International Money Express by 24.5% in the first quarter. Vestcor Inc now owns 62,773 shares of the company's stock worth $792,000 after buying an additional 12,343 shares in the last quarter. LPL Financial LLC lifted its position in shares of International Money Express by 2.5% in the first quarter. LPL Financial LLC now owns 218,413 shares of the company's stock worth $2,756,000 after buying an additional 5,271 shares in the last quarter. Finally, Royce & Associates LP lifted its position in shares of International Money Express by 0.6% in the first quarter. Royce & Associates LP now owns 648,711 shares of the company's stock worth $8,187,000 after buying an additional 4,001 shares in the last quarter. Institutional investors own 86.71% of the company's stock.

International Money Express Stock Performance

Shares of NASDAQ IMXI remained flat at $14.50 during midday trading on Monday. The stock had a trading volume of 248,442 shares, compared to its average volume of 1,294,726. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.13. The business's 50-day moving average price is $11.23 and its 200 day moving average price is $12.18. International Money Express, Inc. has a 12-month low of $8.58 and a 12-month high of $22.37. The firm has a market capitalization of $430.42 million, a price-to-earnings ratio of 8.84 and a beta of 0.96.

Wall Street Analyst Weigh In

IMXI has been the topic of a number of research analyst reports. UBS Group decreased their target price on International Money Express from $17.00 to $12.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. BMO Capital Markets downgraded International Money Express from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $18.00 to $11.00 in a research report on Friday, May 9th. Northland Capmk downgraded International Money Express from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 11th. Zacks Research downgraded International Money Express from a "hold" rating to a "strong sell" rating in a research report on Monday, August 25th. 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 research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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.