Vazirani Asset Management LLC Acquires Shares of 105,900 International Money Express, Inc. $IMXI

Key Points

• Vazirani Asset Management initiated a position of 105,900 International Money Express shares, valued at approximately $1.53 million and representing about 0.35% of the company.
• Institutional interest remains substantial: BlackRock, AllianceBernstein, Magnetar Financial, Man Group and Fort Baker Capital also increased or initiated holdings, with institutions collectively owning 86.71% of IMXI.
• IMXI shares declined 0.1% to $14.47, while analysts maintain a consensus “Hold” rating after two research firms upgraded the stock from “Sell” to “Hold.”

Vazirani Asset Management LLC purchased a new position in International Money Express, Inc. (NASDAQ:IMXI - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 105,900 shares of the company's stock, valued at approximately $1,530,255. International Money Express comprises 0.0% of Vazirani Asset Management LLC's portfolio, making the stock its 6th biggest holding. Vazirani Asset Management LLC owned approximately 0.35% of International Money Express as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new position in shares of International Money Express during the second quarter worth approximately $33,315,000. Alliancebernstein L.P. grew its stake in shares of International Money Express by 6,041.0% in the third quarter. Alliancebernstein L.P. now owns 2,060,904 shares of the company's stock worth $28,791,000 after purchasing an additional 2,027,344 shares during the last quarter. Magnetar Financial LLC increased its stake in International Money Express by 2.4% during the 4th quarter. Magnetar Financial LLC now owns 1,916,571 shares of the company's stock valued at $29,439,000 after purchasing an additional 44,596 shares in the last quarter. Man Group plc purchased a new position in shares of International Money Express during the 2nd quarter valued at about $18,097,000. Finally, Fort Baker Capital Management LP purchased a new stake in International Money Express during the fourth quarter valued at approximately $14,616,000. 86.71% of the stock is owned by institutional investors.

International Money Express Trading Down 0.1%

IMXI traded down $0.02 during trading on Friday, hitting $14.47. The company's stock had a trading volume of 327,193 shares, compared to its average volume of 475,008. The firm has a market capitalization of $437.14 million, a P/E ratio of 23.34 and a beta of 0.76. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.76. The stock's fifty day moving average price is $13.56 and its 200-day moving average price is $14.86. International Money Express, Inc. has a twelve month low of $11.15 and a twelve month high of $15.95.

Analyst Upgrades and Downgrades

IMXI has been the topic of a number of research reports. Wall Street Zen raised shares of International Money Express from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings raised shares of International Money Express from a "sell (d+)" rating to a "hold (c)" rating in a research report on Friday, August 21st. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold".

About International Money Express

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.