International Money Express (NASDAQ:IMXI) Stock Rating Lowered by Northland Capmk

Key Points

• International Money Express was downgraded by Northland Capital Markets from a "strong-buy" to a "hold" rating.
• UBS Group and BMO Capital Markets also cut their price targets for the stock, reflecting a shift in analysts' sentiment.
• Institutional investors increased their stake in International Money Express, with 86.71% of shares now held by these investors.

Northland Capmk cut shares of International Money Express (NASDAQ:IMXI - Free Report) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. UBS Group reduced their price objective on shares of International Money Express from $17.00 to $12.00 and set a "neutral" rating for the company in a report on Friday, May 9th. BMO Capital Markets cut shares of International Money Express from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $18.00 to $11.00 in a report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $19.60.

International Money Express Stock Down 1.1%

Shares of NASDAQ IMXI traded down $0.16 during mid-day trading on Monday, reaching $14.42. 882,502 shares of the company's stock traded hands, compared to its average volume of 1,143,195. The stock has a market cap of $427.99 million, a P/E ratio of 8.79 and a beta of 1.02. The business has a 50-day simple moving average of $10.44 and a 200 day simple moving average of $12.56. International Money Express has a 1-year low of $8.58 and a 1-year high of $22.37. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.63 and a quick ratio of 1.75.

Institutional Trading of International Money Express

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in International Money Express in the first quarter worth about $31,000. Parallel Advisors LLC raised its position in International Money Express by 6,189.8% in the second quarter. Parallel Advisors LLC now owns 3,082 shares of the company's stock worth $31,000 after acquiring an additional 3,033 shares during the period. Raymond James Financial Inc. bought a new stake in International Money Express in the second quarter worth about $40,000. GAMMA Investing LLC raised its position in shares of International Money Express by 7,708.8% in the first 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. Finally, CWM LLC raised its position in shares of International Money Express by 186.5% in 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 during the period. Institutional investors own 86.71% of the company's stock.

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.