International Money Express (NASDAQ:IMXI) Lowered to “Neutral” Rating by Monness Crespi & Hardt

Monness Crespi & Hardt cut shares of International Money Express (NASDAQ:IMXI) from a buy rating to a neutral rating in a research report sent to investors on Thursday, MarketBeat Ratings reports.

IMXI has been the subject of several other research reports. BMO Capital Markets increased their price target on shares of International Money Express from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Needham & Company LLC raised their price target on shares of International Money Express from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Northland Securities upped their price target on shares of International Money Express from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, Oppenheimer assumed coverage on International Money Express in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, International Money Express has an average rating of “Moderate Buy” and a consensus target price of $27.00.

International Money Express Stock Down 2.4 %

IMXI stock opened at $19.62 on Thursday. The stock has a market cap of $610.18 million, a P/E ratio of 10.96 and a beta of 0.89. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.12. The stock’s fifty day simple moving average is $20.93 and its two-hundred day simple moving average is $19.48. International Money Express has a 1-year low of $16.17 and a 1-year high of $23.28.

Hedge Funds Weigh In On International Money Express

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in shares of International Money Express by 7.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,556,925 shares of the company’s stock valued at $28,788,000 after acquiring an additional 109,293 shares in the last quarter. Forager Capital Management LLC lifted its position in International Money Express by 27.1% during the third quarter. Forager Capital Management LLC now owns 1,221,174 shares of the company’s stock valued at $22,580,000 after purchasing an additional 260,000 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its stake in International Money Express by 17.2% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 994,925 shares of the company’s stock worth $18,396,000 after buying an additional 145,686 shares in the last quarter. New South Capital Management Inc. bought a new position in shares of International Money Express in the 3rd quarter worth $17,055,000. Finally, Royce & Associates LP increased its holdings in shares of International Money Express by 9.8% in the 3rd quarter. Royce & Associates LP now owns 557,189 shares of the company’s stock worth $10,302,000 after buying an additional 49,582 shares during the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

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.