International Money Express, Inc. (NASDAQ:IMXI) Short Interest Up 13.2% in October

International Money Express, Inc. (NASDAQ:IMXI) saw a large increase in short interest in October. As of October 15th, there was short interest totalling 1,290,000 shares, an increase of 13.2% from the September 30th total of 1,140,000 shares. Currently, 4.4% of the shares of the stock are sold short. Based on an average daily volume of 303,900 shares, the short-interest ratio is currently 4.2 days.

International Money Express Trading Up 0.3 %

NASDAQ IMXI traded up $0.06 on Thursday, hitting $17.59. 176,428 shares of the stock were exchanged, compared to its average volume of 248,288. The company’s 50-day moving average price is $18.00 and its two-hundred day moving average price is $19.53. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.88 and a quick ratio of 1.88. International Money Express has a 52-week low of $15.76 and a 52-week high of $23.28. The company has a market capitalization of $573.57 million, a price-to-earnings ratio of 10.49 and a beta of 0.81.

International Money Express (NASDAQ:IMXI) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The business had revenue of $171.53 million for the quarter, compared to analysts’ expectations of $174.89 million. International Money Express had a net margin of 8.78% and a return on equity of 43.97%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 EPS. Research analysts predict that International Money Express will post 1.97 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on IMXI. Oppenheimer initiated coverage on shares of International Money Express in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. Needham & Company LLC decreased their target price on International Money Express from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Northland Securities cut their target price on International Money Express from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, BTIG Research reiterated a “neutral” rating on shares of International Money Express in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.40.

Hedge Funds Weigh In On International Money Express

A number of large investors have recently made changes to their positions in IMXI. Principal Financial Group Inc. acquired a new stake in shares of International Money Express during the third quarter worth approximately $633,000. nVerses Capital LLC lifted its position in International Money Express by 133.3% in the 3rd quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock worth $39,000 after buying an additional 1,200 shares in the last quarter. Samson Rock Capital LLP acquired a new stake in shares of International Money Express during the 3rd quarter valued at $1,276,000. Cubist Systematic Strategies LLC grew its holdings in shares of International Money Express by 973.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 18,580 shares of the company’s stock valued at $387,000 after acquiring an additional 16,849 shares in the last quarter. Finally, Aristides Capital LLC increased its stake in shares of International Money Express by 33.3% in the second quarter. Aristides Capital LLC now owns 20,000 shares of the company’s stock worth $417,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors and hedge funds 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.