Brokerages Set INTERNATIONAL MONEY EXPRESS, INC. (NASDAQ:IMXI) PT at $19.60

Key Points

• International Money Express, Inc. has received an average analyst rating of "Hold" with five analysts recommending holding the stock and two analysts recommending buying it.
• The average 12-month price target for the stock is $19.60, although recent ratings from different analysts have varied, with targets ranging from $11.00 to $12.00.
• Institutional investors own 86.71% of International Money Express shares, with significant increases in holdings reported by several investment firms recently.

INTERNATIONAL MONEY EXPRESS, INC. (NASDAQ:IMXI - Get Free Report) has been given a consensus rating of "Hold" by the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $19.60.

A number of brokerages recently commented on IMXI. Zacks Research cut INTERNATIONAL MONEY EXPRESS from a "hold" rating to a "strong sell" rating in a report on Monday, August 25th. Wall Street Zen raised INTERNATIONAL MONEY EXPRESS from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. UBS Group lowered 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. Northland Capmk lowered shares of INTERNATIONAL MONEY EXPRESS from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 11th. Finally, BMO Capital Markets lowered shares of INTERNATIONAL MONEY EXPRESS from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $18.00 to $11.00 in a research note on Friday, May 9th.

Institutional Trading of INTERNATIONAL MONEY EXPRESS

Large investors have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of INTERNATIONAL MONEY EXPRESS during the first quarter worth approximately $31,000. Parallel Advisors LLC increased its stake in shares of INTERNATIONAL MONEY EXPRESS by 6,189.8% during the second quarter. Parallel Advisors LLC now owns 3,082 shares of the company's stock worth $31,000 after buying an additional 3,033 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of INTERNATIONAL MONEY EXPRESS during the second quarter worth approximately $40,000. GAMMA Investing LLC increased its stake in shares of INTERNATIONAL MONEY EXPRESS by 7,708.8% during the first quarter. GAMMA Investing LLC now owns 6,247 shares of the company's stock worth $790,000 after buying an additional 6,167 shares during the period. Finally, CWM LLC increased its stake in shares of INTERNATIONAL MONEY EXPRESS by 186.5% during the second quarter. CWM LLC now owns 6,624 shares of the company's stock worth $67,000 after buying an additional 4,312 shares during the period. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

INTERNATIONAL MONEY EXPRESS Stock Performance

INTERNATIONAL MONEY EXPRESS stock remained flat at $14.50 during midday trading on Wednesday. The company had a trading volume of 248,442 shares, compared to its average volume of 1,294,726. The business has a 50-day simple moving average of $11.32 and a 200-day simple moving average of $12.15. INTERNATIONAL MONEY EXPRESS has a 12 month low of $8.58 and a 12 month high of $22.37. The firm has a market capitalization of $430.36 million, a price-to-earnings ratio of 8.84 and a beta of 0.96. 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 Company 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.