Northland Securities reiterated their buy rating on shares of International Money Express (NASDAQ:IMXI) in a report issued on Friday, August 9th, AnalystRatings.com reports. They currently have a $17.00 price target on the stock.
“We highlight the operating leverage with bank fees only up 3-4% and salaries up 2%. Note that Africa (first wire on January 10th, 2019 – IMXI targeting 300-500 agents long-term) can be the size of Guatemala and Canada (first wire on July 9th, 2019 – IMXI is targeting 4-5 large cities) can be the size of the Texas market. Market share continued to expand with Mexico now at 18.3% from 7.9% in 2014, 4.2 in% in 2014, and in 2014. Intermex volume growth in Honduras growing at 33.6% vs the market at 10.9%. IMXI is excited about the opportunity on the west coast as we expect further traction here through the rest of 2019 with additions in personnel and management believes California can add 10-15M+ transactions over time.”,” the firm’s analyst commented.
Several other research analysts also recently issued reports on the stock. ValuEngine downgraded shares of International Money Express from a buy rating to a hold rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of International Money Express from a sell rating to a hold rating in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $16.75.
Several hedge funds and other institutional investors have recently made changes to their positions in IMXI. Northern Trust Corp lifted its stake in International Money Express by 3.6% in the fourth quarter. Northern Trust Corp now owns 28,615 shares of the company’s stock worth $342,000 after purchasing an additional 996 shares during the last quarter. Geode Capital Management LLC lifted its stake in International Money Express by 174.0% in the fourth quarter. Geode Capital Management LLC now owns 71,914 shares of the company’s stock worth $860,000 after purchasing an additional 45,667 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in International Money Express in the second quarter worth $494,000. Strs Ohio bought a new stake in International Money Express in the second quarter worth $49,000. Finally, Anchor Capital Advisors LLC bought a new stake in International Money Express in the second quarter worth $1,273,000. 34.45% of the stock is owned by hedge funds and other institutional investors.
International Money Express Company Profile
International Money Express, Inc, through its subsidiary, operates as a money remittance services company in the United States, Latin America, Mexico, Central and South America, and the Caribbean. The company offers remittance services, including a suite of ancillary financial processing solutions and payment services.
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