Zacks Research Downgrades INTERNATIONAL MONEY EXPRESS (NASDAQ:IMXI) to Strong Sell

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 researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Monday, August 25th,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Northland Capmk cut shares of INTERNATIONAL MONEY EXPRESS from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 11th. BMO Capital Markets cut shares of INTERNATIONAL MONEY EXPRESS from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $18.00 to $11.00 in a research report on Friday, May 9th. Wall Street Zen upgraded shares of INTERNATIONAL MONEY EXPRESS from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Finally, UBS Group lowered 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 research report on Friday, May 9th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $19.60.

INTERNATIONAL MONEY EXPRESS Price Performance

IMXI stock remained flat at $14.50 during trading on Monday. 248,442 shares of the company were exchanged, compared to its average volume of 1,294,726. The business's fifty day moving average is $11.32 and its 200-day moving average is $12.15. The company has a market capitalization of $430.36 million, a P/E ratio of 8.84 and a beta of 0.96. INTERNATIONAL MONEY EXPRESS has a twelve month low of $8.58 and a twelve month 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 1.63.

Hedge Funds Weigh In On INTERNATIONAL MONEY EXPRESS

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in shares of INTERNATIONAL MONEY EXPRESS during the first quarter worth $31,000. Parallel Advisors LLC increased its position in shares of INTERNATIONAL MONEY EXPRESS by 6,189.8% during the second quarter. Parallel Advisors LLC now owns 3,082 shares of the company's stock worth $31,000 after buying an additional 3,033 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of INTERNATIONAL MONEY EXPRESS during the second quarter worth $40,000. CWM LLC increased 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 worth $67,000 after buying an additional 4,312 shares during the period. Finally, EMC Capital Management acquired a new stake in shares of INTERNATIONAL MONEY EXPRESS during the second quarter worth $92,000. 86.71% of the stock is currently owned by institutional investors and hedge funds.

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.