International Money Express (NASDAQ:IMXI) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of International Money Express (NASDAQ:IMXIGet Rating) from a buy rating to a sell rating in a research note released on Tuesday morning, Zacks.com reports.

According to Zacks, “International Money Express Inc. offer wire transfer and other processing services to customers through network of sending and paying agents located primarily in the District of Columbia and Puerto Rico as well as throughout Latin America. International Money Express Inc., formerly known as FinTech Acquisition Corp. II, is headquartered in Miami, Florida. “

Several other research firms also recently weighed in on IMXI. Credit Suisse Group upped their price objective on shares of International Money Express from $19.00 to $20.50 and gave the stock a neutral rating in a report on Tuesday, March 8th. BTIG Research boosted their price target on shares of International Money Express from $22.00 to $25.00 in a research report on Wednesday, March 16th. Finally, JMP Securities boosted their price target on shares of International Money Express from $20.00 to $24.00 and gave the stock a market outperform rating in a research report on Tuesday, March 8th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $23.10.

IMXI stock opened at $19.61 on Tuesday. The company has a market capitalization of $753.87 million, a P/E ratio of 15.56 and a beta of 0.57. The company has a 50-day simple moving average of $20.20 and a 200 day simple moving average of $17.46. International Money Express has a fifty-two week low of $13.78 and a fifty-two week high of $22.86. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.54.

International Money Express (NASDAQ:IMXIGet Rating) last posted its quarterly earnings data on Monday, March 7th. The company reported $0.38 earnings per share for the quarter. The business had revenue of $127.18 million during the quarter, compared to the consensus estimate of $120.50 million. International Money Express had a net margin of 10.33% and a return on equity of 41.13%. During the same quarter in the prior year, the company posted $0.27 earnings per share. Equities analysts anticipate that International Money Express will post 1.55 EPS for the current year.

In other International Money Express news, CEO Robert Lisy sold 150,000 shares of the business’s stock in a transaction dated Thursday, March 10th. The stock was sold at an average price of $17.74, for a total transaction of $2,661,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Rincon sold 11,977 shares of the business’s stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $19.82, for a total value of $237,384.14. Following the sale, the director now owns 483,827 shares in the company, valued at approximately $9,589,451.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 238,596 shares of company stock worth $4,413,027. Corporate insiders own 16.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in IMXI. Morgan Stanley grew its stake in International Money Express by 86.1% during the 2nd quarter. Morgan Stanley now owns 80,219 shares of the company’s stock valued at $1,192,000 after acquiring an additional 37,103 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of International Money Express by 75.9% in the 3rd quarter. SG Americas Securities LLC now owns 28,792 shares of the company’s stock valued at $481,000 after buying an additional 12,428 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of International Money Express by 13.1% in the 3rd quarter. New York State Common Retirement Fund now owns 28,197 shares of the company’s stock valued at $471,000 after buying an additional 3,256 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of International Money Express in the 3rd quarter valued at approximately $1,860,000. Finally, Swiss National Bank grew its stake in shares of International Money Express by 3.2% in the 3rd quarter. Swiss National Bank now owns 64,900 shares of the company’s stock valued at $1,084,000 after buying an additional 2,000 shares in the last quarter. 82.49% of the stock is currently owned by institutional investors.

International Money Express Company Profile (Get Rating)

International Money Express, Inc, through its subsidiary, operates as a money remittance services company in the United States, Latin America, Mexico, Africa, Central and South America, and the Caribbean. 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.

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