INTERNATIONAL MONEY EXPRESS (NASDAQ:IMXI) Raised to Buy at 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 research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Several other research firms also recently weighed in on IMXI. Northland Capmk downgraded INTERNATIONAL MONEY EXPRESS from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 11th. BMO Capital Markets lowered INTERNATIONAL MONEY EXPRESS from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $18.00 to $11.00 in a report on Friday, May 9th. Finally, UBS Group cut their price objective on 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. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $19.60.

INTERNATIONAL MONEY EXPRESS Stock Performance

INTERNATIONAL MONEY EXPRESS stock traded down $0.16 during mid-day trading on Friday, reaching $14.42. 882,502 shares of the stock traded hands, compared to its average volume of 1,175,175. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.63 and a quick ratio of 1.63. The business's 50-day moving average is $10.44 and its 200-day moving average is $12.47. The stock has a market capitalization of $427.99 million, a PE ratio of 8.79 and a beta of 1.02. INTERNATIONAL MONEY EXPRESS has a 12-month low of $8.58 and a 12-month high of $22.37.

Hedge Funds Weigh In On INTERNATIONAL MONEY EXPRESS

Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of INTERNATIONAL MONEY EXPRESS by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 850,766 shares of the company's stock worth $17,725,000 after purchasing an additional 2,292 shares during the period. Wells Fargo & Company MN grew its stake in shares of INTERNATIONAL MONEY EXPRESS by 51.0% in the 4th quarter. Wells Fargo & Company MN now owns 14,960 shares of the company's stock worth $312,000 after acquiring an additional 5,050 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of INTERNATIONAL MONEY EXPRESS by 0.8% in the 4th quarter. Russell Investments Group Ltd. now owns 87,458 shares of the company's stock worth $1,822,000 after acquiring an additional 698 shares in the last quarter. Invesco Ltd. grew its position in INTERNATIONAL MONEY EXPRESS by 5.2% during the fourth quarter. Invesco Ltd. now owns 66,643 shares of the company's stock valued at $1,388,000 after buying an additional 3,322 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in INTERNATIONAL MONEY EXPRESS by 25.5% during the fourth quarter. Renaissance Technologies LLC now owns 147,300 shares of the company's stock valued at $3,068,000 after purchasing an additional 29,900 shares during the last quarter. 86.71% of the stock is owned by institutional investors.

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.