International Money Express (NASDAQ:IMXI) Coverage Initiated at Oppenheimer

Oppenheimer initiated coverage on shares of International Money Express (NASDAQ:IMXI) in a report issued on Tuesday, Marketbeat Ratings reports. The firm issued a market perform rating on the stock.

Other analysts have also recently issued research reports about the stock. BTIG Research reissued a neutral rating on shares of International Money Express in a research note on Wednesday, August 7th. Needham & Company LLC decreased their price objective on shares of International Money Express from $25.00 to $22.00 and set a buy rating on the stock in a research note on Thursday, August 8th. Finally, Northland Securities cut their target price on shares of International Money Express from $24.00 to $23.00 and set an outperform rating for the company in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $24.17.

International Money Express Stock Up 2.0 %

International Money Express stock opened at $17.51 on Tuesday. International Money Express has a 1-year low of $15.76 and a 1-year high of $23.28. The firm’s fifty day simple moving average is $18.39 and its 200-day simple moving average is $20.13. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $571.53 million, a P/E ratio of 10.49 and a beta of 0.81.

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 the consensus estimate of $174.89 million. International Money Express had a net margin of 8.78% and a return on equity of 43.97%. International Money Express’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 EPS. Sell-side analysts forecast that International Money Express will post 1.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On International Money Express

Several institutional investors have recently modified their holdings of IMXI. Principal Financial Group Inc. boosted its stake in International Money Express by 30.9% in the 4th quarter. Principal Financial Group Inc. now owns 23,941 shares of the company’s stock valued at $529,000 after purchasing an additional 5,657 shares during the period. Breach Inlet Capital Management LLC acquired a new position in shares of International Money Express in the 4th quarter worth approximately $9,736,000. Janney Montgomery Scott LLC bought a new position in International Money Express during the first quarter worth $562,000. Access Investment Management LLC increased its holdings in International Money Express by 5,051.3% in the first quarter. Access Investment Management LLC now owns 41,210 shares of the company’s stock worth $941,000 after purchasing an additional 40,410 shares in the last quarter. Finally, LSV Asset Management increased its stake in International Money Express by 3,421.5% in the first quarter. LSV Asset Management now owns 692,853 shares of the company’s stock valued at $15,818,000 after purchasing an additional 673,178 shares in the last quarter. Institutional investors own 86.71% of the company’s stock.

International Money Express Company 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.