International Money Express, Inc. (NASDAQ:IMXI) Sees Large Increase in Short Interest

International Money Express, Inc. (NASDAQ:IMXI - Get Free Report) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 808,300 shares, an increase of 10.7% from the February 29th total of 730,000 shares. Based on an average trading volume of 235,200 shares, the days-to-cover ratio is presently 3.4 days. Approximately 2.7% of the shares of the stock are short sold.

International Money Express Price Performance

IMXI traded down $0.11 on Tuesday, hitting $22.47. 204,966 shares of the company's stock were exchanged, compared to its average volume of 240,336. International Money Express has a fifty-two week low of $15.76 and a fifty-two week high of $26.71. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 1.37. The firm has a 50-day moving average price of $21.04 and a 200-day moving average price of $19.96. The stock has a market cap of $757.91 million, a price-to-earnings ratio of 13.79 and a beta of 0.73.

International Money Express (NASDAQ:IMXI - Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. International Money Express had a net margin of 9.03% and a return on equity of 42.30%. The company had revenue of $171.78 million for the quarter, compared to analysts' expectations of $175.55 million. As a group, equities analysts anticipate that International Money Express will post 2.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on IMXI. Monness Crespi & Hardt began coverage on shares of International Money Express in a report on Wednesday, March 20th. They issued a "buy" rating and a $27.00 price target for the company. BMO Capital Markets cut their price target on shares of International Money Express from $30.00 to $29.00 and set an "outperform" rating for the company in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, International Money Express presently has an average rating of "Moderate Buy" and a consensus target price of $24.00.

Insider Buying and Selling

In related news, insider Joseph Aguilar sold 23,700 shares of the business's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $21.13, for a total value of $500,781.00. Following the completion of the sale, the insider now owns 105,677 shares of the company's stock, valued at approximately $2,232,955.01. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 10.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC lifted its position in International Money Express by 0.7% in the first quarter. AQR Capital Management LLC now owns 74,718 shares of the company's stock valued at $1,926,000 after buying an additional 484 shares during the last quarter. Rhumbline Advisers increased its stake in shares of International Money Express by 1.3% during the first quarter. Rhumbline Advisers now owns 40,446 shares of the company's stock worth $1,043,000 after buying an additional 522 shares during the period. FMR LLC increased its stake in shares of International Money Express by 101.9% during the first quarter. FMR LLC now owns 1,070 shares of the company's stock worth $28,000 after buying an additional 540 shares during the period. Bank of New York Mellon Corp increased its stake in shares of International Money Express by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 133,396 shares of the company's stock worth $3,439,000 after buying an additional 582 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of International Money Express by 8.1% during the fourth quarter. SG Americas Securities LLC now owns 8,321 shares of the company's stock worth $184,000 after buying an additional 625 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.