International Money Express (NASDAQ:IMXI) Cut to "Market Perform" at BMO Capital Markets

International Money Express (NASDAQ:IMXI - Get Free Report) was downgraded by BMO Capital Markets from an "outperform" rating to a "market perform" rating in a note issued to investors on Friday, Marketbeat Ratings reports. They currently have a $11.00 price target on the stock, down from their previous price target of $18.00. BMO Capital Markets' price objective points to a potential downside of 1.08% from the company's current price.

Several other research analysts have also recently issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 price target on shares of International Money Express in a report on Monday, April 7th. Monness Crespi & Hardt downgraded shares of International Money Express from a "buy" rating to a "neutral" rating in a research note on Thursday, January 23rd. Finally, UBS Group dropped their price target on shares of International Money Express from $22.00 to $17.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $20.50.

International Money Express Stock Performance

NASDAQ IMXI traded up $0.23 on Friday, hitting $11.12. The stock had a trading volume of 758,507 shares, compared to its average volume of 280,445. International Money Express has a one year low of $9.90 and a one year high of $22.38. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.12. The stock has a market cap of $335.02 million, a price-to-earnings ratio of 6.21 and a beta of 1.23. The company's 50-day moving average is $12.58 and its two-hundred day moving average is $17.23.

Institutional Trading of International Money Express

Several hedge funds have recently added to or reduced their stakes in the business. New York State Common Retirement Fund lifted its position in International Money Express by 41.6% in the 1st quarter. New York State Common Retirement Fund now owns 10,218 shares of the company's stock valued at $129,000 after acquiring an additional 3,000 shares in the last quarter. Legato Capital Management LLC acquired a new position in shares of International Money Express during the 1st quarter worth about $161,000. Aquatic Capital Management LLC acquired a new position in International Money Express in the 4th quarter valued at about $169,000. Aigen Investment Management LP acquired a new position in International Money Express in the 1st quarter valued at about $196,000. Finally, Lazard Asset Management LLC grew its stake in International Money Express by 6.1% in the 4th quarter. Lazard Asset Management LLC now owns 11,361 shares of the company's stock valued at $235,000 after buying an additional 654 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company's stock.

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.