Cornerstone Investment Partners LLC Buys New Position in International Money Express, Inc. (NASDAQ:IMXI)

Cornerstone Investment Partners LLC purchased a new stake in International Money Express, Inc. (NASDAQ:IMXI – Get Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,825 shares of the company’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IMXI. Russell Investments Group Ltd. grew its holdings in shares of International Money Express by 19.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 534,666 shares of the company’s stock worth $12,183,000 after purchasing an additional 88,816 shares during the period. Royce & Associates LP raised its position in shares of International Money Express by 79.5% during the 3rd quarter. Royce & Associates LP now owns 35,900 shares of the company’s stock valued at $818,000 after acquiring an additional 15,900 shares in the last quarter. Barclays PLC grew its stake in International Money Express by 92.5% during the 3rd quarter. Barclays PLC now owns 31,317 shares of the company’s stock worth $714,000 after buying an additional 15,047 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of International Money Express by 129.4% in the third quarter. Victory Capital Management Inc. now owns 39,036 shares of the company’s stock worth $890,000 after purchasing an additional 22,022 shares in the last quarter. Finally, Sheets Smith Wealth Management bought a new position in shares of International Money Express in the third quarter worth $411,000. Hedge funds and other institutional investors own 87.49% of the company’s stock.

International Money Express Price Performance

International Money Express stock opened at $23.39 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.38 and a quick ratio of 2.38. The company has a market capitalization of $866.88 million, a PE ratio of 16.14 and a beta of 0.52. International Money Express, Inc. has a one year low of $15.07 and a one year high of $27.81. The business has a 50 day simple moving average of $22.27 and a 200 day simple moving average of $23.28.

International Money Express (NASDAQ:IMXI – Get Rating) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.09. International Money Express had a return on equity of 42.07% and a net margin of 11.05%. The firm had revenue of $140.77 million during the quarter, compared to the consensus estimate of $144.35 million. On average, sell-side analysts forecast that International Money Express, Inc. will post 1.61 EPS for the current fiscal year.

Insider Activity

In other news, Director John Rincon sold 26,445 shares of International Money Express stock in a transaction on Monday, December 5th. The stock was sold at an average price of $21.15, for a total value of $559,311.75. Following the completion of the sale, the director now directly owns 32,045 shares of the company’s stock, valued at approximately $677,751.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 15.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JMP Securities increased their price objective on International Money Express from $26.00 to $27.00 and gave the stock a “market outperform” rating in a research note on Friday, January 13th.

International Money Express Profile

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International Money Express, Inc engages in the provision of money transmittal services. It offers online money transfer, in person wire transfer, check processing, prepaid debit card, bill payment, and telewire services. The company was founded in 1994 and is headquartered in Miami, FL.