International Money Express, Inc. (NASDAQ:IMXI) Short Interest Up 36.0% in March

Key Points

• Short interest up 36% in March to 1,336,889 shares (about 4.7% of the company's stock sold short) with a short-interest ratio of 3.6 days based on average daily volume.
• The company missed quarterly expectations, reporting EPS of $0.41 vs. $0.53 expected and revenue of $147.41M vs. $162.95M, while shares trade near $15.92 and the stock has a P/E of 14.74.
• Analyst and institutional sentiment: Weiss Ratings upgraded IMXI to Hold and the consensus rating is Hold with a $11.50 target, and institutional investors own 86.71% of the stock with several funds recently increasing stakes.

International Money Express, Inc. (NASDAQ:IMXI - Get Free Report) saw a significant growth in short interest in March. As of March 31st, there was short interest totaling 1,336,889 shares, a growth of 36.0% from the March 15th total of 983,288 shares. Currently, 4.7% of the company's stock are sold short. Based on an average daily trading volume, of 368,470 shares, the short-interest ratio is presently 3.6 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded International Money Express from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, March 4th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, International Money Express presently has a consensus rating of "Hold" and a consensus target price of $11.50.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Creative Planning acquired a new stake in shares of International Money Express during the second quarter worth $272,000. Norges Bank purchased a new stake in International Money Express during the 2nd quarter valued at about $1,124,000. Quantbot Technologies LP grew its stake in International Money Express by 35.5% during the 2nd quarter. Quantbot Technologies LP now owns 32,423 shares of the company's stock valued at $327,000 after purchasing an additional 8,487 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of International Money Express by 2.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 287,744 shares of the company's stock valued at $2,903,000 after purchasing an additional 7,256 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of International Money Express by 2.1% in the second quarter. First Trust Advisors LP now owns 93,410 shares of the company's stock valued at $943,000 after purchasing an additional 1,881 shares during the period. Institutional investors and hedge funds own 86.71% of the company's stock.

International Money Express Stock Up 0.1%

IMXI stock traded up $0.02 on Wednesday, hitting $15.92. 229,997 shares of the company's stock were exchanged, compared to its average volume of 348,962. The firm has a 50 day moving average price of $15.74 and a two-hundred day moving average price of $15.34. International Money Express has a 12-month low of $8.58 and a 12-month high of $15.94. The stock has a market cap of $479.83 million, a P/E ratio of 14.74 and a beta of 0.84. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.51 and a current ratio of 2.51.

International Money Express (NASDAQ:IMXI - Get Free Report) last issued its quarterly earnings results on Friday, March 6th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.12). International Money Express had a return on equity of 29.00% and a net margin of 5.38%.The business had revenue of $147.41 million during the quarter, compared to analyst estimates of $162.95 million. As a group, equities research analysts expect that International Money Express will post 1.97 EPS for the current fiscal 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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