International Money Express (NASDAQ:IMXI) Downgraded to Strong Sell Rating by Zacks Research

Key Points

• International Money Express has been downgraded from a "hold" to a "strong sell" rating by Zacks Research, reflecting negative outlook on the stock's performance.
• Despite the downgrade, two analysts have rated the stock as a "buy," while five have issued "hold" ratings, suggesting mixed confidence among investors.
• Shares of International Money Express have experienced a slight decline of 0.2%, with current trading at $14.42, below its average price target of $19.60.

International Money Express (NASDAQ:IMXI - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Monday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of International Money Express from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Northland Capmk cut shares of International Money Express from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 11th. UBS Group decreased their price target on shares of International Money Express from $17.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Finally, BMO Capital Markets cut shares of International Money Express from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $18.00 to $11.00 in a research note on Friday, May 9th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, International Money Express presently has an average rating of "Hold" and an average price target of $19.60.

International Money Express Stock Down 0.2%

Shares of NASDAQ:IMXI opened at $14.42 on Monday. The stock has a market cap of $427.99 million, a P/E ratio of 8.79 and a beta of 1.02. The firm has a fifty day moving average price of $10.96 and a 200 day moving average price of $12.31. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.63 and a quick ratio of 1.63. International Money Express has a 1-year low of $8.58 and a 1-year high of $22.37.

Institutional Trading of International Money Express

Hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of International Money Express in the 1st quarter worth $31,000. Parallel Advisors LLC lifted its stake in shares of 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 acquiring an additional 3,033 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of International Money Express in the 2nd quarter worth $40,000. GAMMA Investing LLC lifted its stake in shares of 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 acquiring an additional 6,167 shares during the period. Finally, CWM LLC lifted its stake in shares of International Money Express by 186.5% in the 2nd quarter. CWM LLC now owns 6,624 shares of the company's stock worth $67,000 after acquiring an additional 4,312 shares during the period. 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.

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