INTERNATIONAL MONEY EXPRESS, INC. (NASDAQ:IMXI) Sees Large Decline in Short Interest

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 significant drop in short interest in the month of August. As of August 15th, there was short interest totaling 1,200,000 shares, a drop of 34.8% from the July 31st total of 1,840,000 shares. Based on an average daily volume of 623,100 shares, the short-interest 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 short-interest ratio is currently 1.9 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in IMXI. Quarry LP bought a new position in shares of INTERNATIONAL MONEY EXPRESS in the first quarter worth approximately $31,000. Parallel Advisors LLC raised its holdings in INTERNATIONAL MONEY EXPRESS by 6,189.8% in the 2nd quarter. Parallel Advisors LLC now owns 3,082 shares of the company's stock worth $31,000 after purchasing an additional 3,033 shares during the period. Raymond James Financial Inc. purchased a new stake in INTERNATIONAL MONEY EXPRESS in the 2nd quarter worth $40,000. GAMMA Investing LLC increased its stake in INTERNATIONAL MONEY EXPRESS by 7,708.8% in the 1st quarter. GAMMA Investing LLC now owns 6,247 shares of the company's stock worth $790,000 after buying an additional 6,167 shares in the last quarter. Finally, CWM LLC grew its position 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 valued at $67,000 after purchasing an additional 4,312 shares in the last quarter. Hedge funds and other institutional investors own 86.71% of the company's stock.

INTERNATIONAL MONEY EXPRESS Trading Down 0.1%

NASDAQ:IMXI traded down $0.02 during mid-day trading on Friday, reaching $14.50. 302,658 shares of the company's stock traded hands, compared to its average volume of 502,400. 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 7.68 and a beta of 0.96. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.63 and a quick ratio of 1.63. The company has a 50 day moving average price of $12.07 and a 200-day moving average price of $12.01.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Northland Capmk cut shares of INTERNATIONAL MONEY EXPRESS from a "strong-buy" rating to a "hold" rating in a report on Monday, August 11th. Wall Street Zen upgraded INTERNATIONAL MONEY EXPRESS from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Finally, Zacks Research lowered INTERNATIONAL MONEY EXPRESS from a "hold" rating to a "strong sell" rating in a research note on Monday, August 25th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, INTERNATIONAL MONEY EXPRESS has an average rating of "Hold" and an average price target of $19.60.

About INTERNATIONAL MONEY EXPRESS

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.