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

International Money Express, Inc. (NASDAQ:IMXI) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 1,290,000 shares, an increase of 13.2% from the September 30th total of 1,140,000 shares. Based on an average trading volume of 303,900 shares, the days-to-cover ratio is currently 4.2 days. Currently, 4.4% of the shares of the company are short sold.

Institutional Trading of International Money Express

A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers boosted its position in International Money Express by 1.0% during the second quarter. Rhumbline Advisers now owns 45,877 shares of the company’s stock worth $956,000 after purchasing an additional 452 shares in the last quarter. nVerses Capital LLC boosted its position in International Money Express by 133.3% during the third quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock worth $39,000 after purchasing an additional 1,200 shares in the last quarter. Foyston Gordon & Payne Inc boosted its position in International Money Express by 8.2% during the second quarter. Foyston Gordon & Payne Inc now owns 21,798 shares of the company’s stock worth $454,000 after purchasing an additional 1,658 shares in the last quarter. Lazard Asset Management LLC boosted its position in International Money Express by 41.5% during the first quarter. Lazard Asset Management LLC now owns 6,319 shares of the company’s stock worth $143,000 after purchasing an additional 1,853 shares in the last quarter. Finally, Riverwater Partners LLC boosted its position in International Money Express by 14.9% during the second quarter. Riverwater Partners LLC now owns 14,833 shares of the company’s stock worth $309,000 after purchasing an additional 1,926 shares in the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

International Money Express Stock Up 0.3 %

Shares of NASDAQ:IMXI traded up $0.06 on Thursday, reaching $17.59. The company had a trading volume of 176,428 shares, compared to its average volume of 248,288. International Money Express has a 52-week low of $15.76 and a 52-week high of $23.28. The firm’s 50 day simple moving average is $18.00 and its 200-day simple moving average is $19.53. The firm has a market capitalization of $573.57 million, a PE ratio of 10.49 and a beta of 0.81. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 1.57.

International Money Express (NASDAQ:IMXI) last announced its earnings results on Wednesday, August 7th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.02). The business had revenue of $171.53 million for the quarter, compared to analysts’ expectations of $174.89 million. International Money Express had a return on equity of 43.97% and a net margin of 8.78%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 earnings per share. As a group, analysts expect that International Money Express will post 1.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. BTIG Research reaffirmed a “neutral” rating on shares of International Money Express in a research note on Wednesday, August 7th. Oppenheimer initiated coverage on International Money Express in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. Northland Securities cut their target price on International Money Express from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Needham & Company LLC cut their target price on International Money Express from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.40.

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.