INTERNATIONAL MONEY EXPRESS (NASDAQ:IMXI) Stock Rating Upgraded by Wall Street Zen

Key Points

• Analysts at Wall Street Zen upgraded International Money Express (NASDAQ:IMXI) from a "hold" rating to a "buy" rating, indicating increased confidence in the stock.
• Despite the upgrade, other firms like UBS Group and BMO Capital Markets have recently lowered their price targets for the stock, reflecting mixed sentiments in the market.
• International Money Express has a substantial institutional ownership, with 86.71% of its shares held by institutional investors and hedge funds.

INTERNATIONAL MONEY EXPRESS (NASDAQ:IMXI - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Several other equities analysts have also weighed in on IMXI. BMO Capital Markets lowered 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 research note on Friday, May 9th. Northland Capmk lowered INTERNATIONAL MONEY EXPRESS from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 11th. Finally, UBS Group reduced their price target on INTERNATIONAL MONEY EXPRESS from $17.00 to $12.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, INTERNATIONAL MONEY EXPRESS presently has a consensus rating of "Hold" and an average price target of $19.60.

INTERNATIONAL MONEY EXPRESS Trading Up 0.4%

Shares of NASDAQ IMXI traded up $0.06 during midday trading on Friday, hitting $14.54. The stock had a trading volume of 899,810 shares, compared to its average volume of 1,216,599. The company has a market capitalization of $431.55 million, a price-to-earnings ratio of 8.87 and a beta of 1.02. INTERNATIONAL MONEY EXPRESS has a 1-year low of $8.58 and a 1-year high of $22.37. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.13. The company has a fifty day moving average price of $10.63 and a 200 day moving average price of $12.46.

Institutional Investors Weigh In On INTERNATIONAL MONEY EXPRESS

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP purchased a new stake in INTERNATIONAL MONEY EXPRESS during the 1st quarter worth approximately $31,000. Parallel Advisors LLC increased its holdings in INTERNATIONAL MONEY EXPRESS by 6,189.8% during 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 last quarter. Raymond James Financial Inc. purchased a new stake in INTERNATIONAL MONEY EXPRESS during the 2nd quarter worth approximately $40,000. CWM LLC increased its holdings in INTERNATIONAL MONEY EXPRESS by 186.5% during the 2nd quarter. CWM LLC now owns 6,624 shares of the company's stock worth $67,000 after purchasing an additional 4,312 shares during the last quarter. Finally, EMC Capital Management purchased a new stake in INTERNATIONAL MONEY EXPRESS during the 2nd quarter worth approximately $92,000. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

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.