International Money Express, Inc. (NASDAQ:IMXI) Short Interest Update

International Money Express, Inc. (NASDAQ:IMXI) was the recipient of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 977,800 shares, a decrease of 6.9% from the November 15th total of 1,050,000 shares. Based on an average daily volume of 258,300 shares, the short-interest ratio is currently 3.8 days. Currently, 3.4% of the company’s shares are short sold.

Hedge Funds Weigh In On International Money Express

Institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC increased its holdings in International Money Express by 133.3% in the 3rd quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock valued at $39,000 after purchasing an additional 1,200 shares during the last quarter. CWM LLC lifted its position in shares of International Money Express by 201.7% during the 2nd quarter. CWM LLC now owns 3,394 shares of the company’s stock worth $71,000 after buying an additional 2,269 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in International Money Express during the 2nd quarter worth $91,000. Quarry LP grew its stake in International Money Express by 113.7% during the 2nd quarter. Quarry LP now owns 4,760 shares of the company’s stock worth $99,000 after buying an additional 2,533 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in International Money Express by 1,277.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 6,061 shares of the company’s stock valued at $126,000 after purchasing an additional 5,621 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IMXI. Monness Crespi & Hardt cut their price target on International Money Express from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Northland Securities raised their price target on shares of International Money Express from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Oppenheimer initiated coverage on shares of International Money Express in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Needham & Company LLC boosted their target price on International Money Express from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, BMO Capital Markets lifted their target price on shares of International Money Express from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

International Money Express Stock Performance

NASDAQ:IMXI opened at $21.37 on Tuesday. International Money Express has a fifty-two week low of $16.17 and a fifty-two week high of $23.28. The company has a fifty day moving average of $19.57 and a two-hundred day moving average of $19.48. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.80 and a current ratio of 1.80. The stock has a market capitalization of $664.59 million, a PE ratio of 11.94 and a beta of 0.88.

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.