International Money Express, Inc. (NASDAQ:IMXI) Sees Large Decrease in Short Interest

International Money Express, Inc. (NASDAQ:IMXI) saw a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 1,050,000 shares, a drop of 11.8% from the October 31st total of 1,190,000 shares. Based on an average daily trading volume, of 282,700 shares, the days-to-cover ratio is currently 3.7 days. Approximately 3.8% of the company’s shares are sold short.

Hedge Funds Weigh In On International Money Express

Hedge funds and other institutional investors have recently made changes to their positions in the company. nVerses Capital LLC raised its holdings in shares of International Money Express by 133.3% in the third quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock valued at $39,000 after acquiring an additional 1,200 shares in the last quarter. CWM LLC lifted its position in shares of International Money Express by 201.7% in the 2nd quarter. CWM LLC now owns 3,394 shares of the company’s stock worth $71,000 after purchasing an additional 2,269 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of International Money Express in the 2nd quarter worth approximately $91,000. Quarry LP boosted its stake in shares of International Money Express by 113.7% during the second quarter. Quarry LP now owns 4,760 shares of the company’s stock valued at $99,000 after purchasing an additional 2,533 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in International Money Express by 1,277.5% during the second quarter. Meeder Asset Management Inc. now owns 6,061 shares of the company’s stock valued at $126,000 after buying an additional 5,621 shares during the period. Institutional investors own 86.71% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Monness Crespi & Hardt reduced their target price on shares of International Money Express from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Northland Securities boosted their target price on International Money Express from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. BTIG Research reiterated a “neutral” rating on shares of International Money Express in a report on Wednesday, August 7th. BMO Capital Markets raised their price target on International Money Express from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Oppenheimer initiated coverage on 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 given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

International Money Express Stock Up 0.6 %

Shares of NASDAQ:IMXI opened at $21.20 on Tuesday. The business’s 50 day moving average is $18.98 and its 200 day moving average is $19.44. The stock has a market cap of $659.32 million, a P/E ratio of 11.84 and a beta of 0.88. International Money Express has a 52-week low of $16.17 and a 52-week high of $23.28. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.12.

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.