International Money Express (NASDAQ:IMXI) Shares Gap Up to $19.59

International Money Express, Inc. (NASDAQ:IMXI)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $19.59, but opened at $20.53. International Money Express shares last traded at $20.03, with a volume of 107,326 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Monness Crespi & Hardt started coverage on shares of International Money Express in a report on Wednesday, March 20th. They set a “buy” rating and a $27.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $25.00 target price on shares of International Money Express in a research note on Thursday. Finally, BMO Capital Markets boosted their price target on International Money Express from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.00.

International Money Express Stock Performance

The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.94 and a current ratio of 1.94. The stock’s 50 day moving average price is $21.30 and its 200 day moving average price is $20.75. The company has a market capitalization of $712.38 million, a P/E ratio of 12.96 and a beta of 0.76.

International Money Express (NASDAQ:IMXI) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. International Money Express had a return on equity of 42.30% and a net margin of 9.03%. The firm had revenue of $171.78 million during the quarter, compared to analyst estimates of $175.55 million. As a group, equities analysts expect that International Money Express, Inc. will post 2.05 EPS for the current year.

Insiders Place Their Bets

In related news, insider Joseph Aguilar sold 23,700 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $21.13, for a total value of $500,781.00. Following the transaction, the insider now directly owns 105,677 shares in the company, valued at approximately $2,232,955.01. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On International Money Express

A number of hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its position in International Money Express by 9.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,651,169 shares of the company’s stock worth $27,954,000 after purchasing an additional 138,002 shares in the last quarter. Ancora Advisors LLC grew its stake in International Money Express by 107.6% in the 3rd quarter. Ancora Advisors LLC now owns 103,411 shares of the company’s stock valued at $1,751,000 after purchasing an additional 53,602 shares during the period. ABS Direct Equity Fund LLC bought a new stake in shares of International Money Express during the 4th quarter worth $1,879,000. Voss Capital LLC boosted its holdings in shares of International Money Express by 22.9% in the 4th quarter. Voss Capital LLC now owns 1,680,047 shares of the company’s stock worth $37,112,000 after buying an additional 313,135 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in International Money Express by 579.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 434,057 shares of the company’s stock worth $9,588,000 after acquiring an additional 370,191 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.

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.