International Money Express, Inc. (NASDAQ:IMXI) Short Interest Update

Key Points

• International Money Express, Inc. saw a significant decrease in short interest of 34.8%, dropping from 1,840,000 to 1,200,000 shares by mid-August.
• Analyst ratings have been mixed, with Zacks Research downgrading the stock to a "strong sell" while Wall Street Zen upgraded it to "buy."
• The company's stock is currently trading at $14.48, having a market cap of approximately $429.82 million and a PE ratio of 8.83.

International Money Express, Inc. (NASDAQ:IMXI - Get Free Report) was the target of a large drop in short interest in the month of August. As of August 15th, there was short interest totaling 1,200,000 shares, adropof34.8% from the July 31st total of 1,840,000 shares. Based on an average daily volume of 623,100 shares, the days-to-cover ratio is currently 1.9 days. Currently,4.4% of the company's shares are sold short. Currently,4.4% of the company's shares are sold short. Based on an average daily volume of 623,100 shares, the days-to-cover ratio is currently 1.9 days.

Analyst Ratings Changes

IMXI has been the subject of a number of recent analyst reports. Zacks Research lowered shares of International Money Express from a "hold" rating to a "strong sell" rating in a research note on Monday, August 25th. 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, Wall Street Zen raised shares of International Money Express from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, International Money Express currently has a consensus rating of "Hold" and a consensus price target of $19.60.

Institutional Trading of International Money Express

A number of institutional investors and hedge funds have recently modified their holdings of IMXI. Rhumbline Advisers boosted its holdings in International Money Express by 11.4% during the first quarter. Rhumbline Advisers now owns 50,607 shares of the company's stock valued at $639,000 after acquiring an additional 5,189 shares during the period. GAMMA Investing LLC boosted its stake in International Money Express by 7,708.8% during the 1st quarter. GAMMA Investing LLC now owns 6,247 shares of the company's stock valued at $790,000 after purchasing an additional 6,167 shares during the period. LPL Financial LLC grew its holdings in International Money Express by 2.5% in the 1st quarter. LPL Financial LLC now owns 218,413 shares of the company's stock valued at $2,756,000 after buying an additional 5,271 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in International Money Express by 9.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,906 shares of the company's stock valued at $1,331,000 after buying an additional 5,597 shares during the last quarter. Finally, HighTower Advisors LLC bought a new position in International Money Express in the 1st quarter worth approximately $161,000. 86.71% of the stock is currently owned by institutional investors and hedge funds.

International Money Express Stock Down 0.6%

Shares of NASDAQ IMXI traded down $0.09 during mid-day trading on Friday, reaching $14.48. 394,181 shares of the company traded hands, compared to its average volume of 1,302,654. The company's fifty day moving average is $11.68 and its two-hundred day moving average is $12.09. 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 has a fifty-two week low of $8.58 and a fifty-two week high of $22.37. The stock has a market cap of $429.82 million, a PE ratio of 8.83 and a beta of 0.96.

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.

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