International Money Express, Inc. (NASDAQ:IMXI) Shares Acquired by M&T Bank Corp

M&T Bank Corp raised its stake in shares of International Money Express, Inc. (NASDAQ:IMXI) by 29.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,754 shares of the company’s stock after buying an additional 24,175 shares during the period. M&T Bank Corp owned approximately 0.34% of International Money Express worth $1,955,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CWM LLC boosted its holdings in shares of International Money Express by 201.7% in the second quarter. CWM LLC now owns 3,394 shares of the company’s stock valued at $71,000 after acquiring an additional 2,269 shares in the last quarter. SG Americas Securities LLC bought a new position in International Money Express during the 2nd quarter valued at $364,000. Summit Global Investments acquired a new position in shares of International Money Express during the 2nd quarter valued at $247,000. Kirr Marbach & Co. LLC IN increased its position in shares of International Money Express by 64.0% during the 2nd quarter. Kirr Marbach & Co. LLC IN now owns 25,620 shares of the company’s stock valued at $534,000 after purchasing an additional 10,000 shares during the period. Finally, Schwartz Investment Counsel Inc. raised its stake in shares of International Money Express by 6.0% in the 2nd quarter. Schwartz Investment Counsel Inc. now owns 114,000 shares of the company’s stock worth $2,376,000 after buying an additional 6,500 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors.

International Money Express Price Performance

NASDAQ IMXI opened at $21.30 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.12. International Money Express, Inc. has a 1 year low of $16.17 and a 1 year high of $23.28. The company has a market cap of $662.41 million, a PE ratio of 11.90 and a beta of 0.88. The stock’s 50-day moving average price is $19.57 and its two-hundred day moving average price is $19.49.

Wall Street Analyst Weigh In

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

International Money Express 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.