International Money Express (NASDAQ:IMXI) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

International Money Express (NASDAQ:IMXI) had its price target hoisted by analysts at Needham & Company LLC from $22.00 to $25.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 15.79% from the stock’s current price.

A number of other analysts have also recently commented on IMXI. Oppenheimer initiated coverage on shares of International Money Express in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. BTIG Research reaffirmed a “neutral” rating on shares of International Money Express in a research note on Wednesday, August 7th. Monness Crespi & Hardt lowered their target price on International Money Express from $30.00 to $28.00 and set a “buy” rating for the company in a report on Monday, November 4th. BMO Capital Markets increased their price target on International Money Express from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Northland Securities lifted their price objective 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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

International Money Express Stock Down 0.7 %

Shares of NASDAQ IMXI opened at $21.59 on Tuesday. The company’s 50 day moving average price is $18.30 and its 200-day moving average price is $19.38. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.88 and a current ratio of 1.80. International Money Express has a 52-week low of $16.17 and a 52-week high of $23.28. The company has a market capitalization of $671.45 million, a P/E ratio of 12.06 and a beta of 0.82.

Hedge Funds Weigh In On International Money Express

A number of institutional investors have recently modified their holdings of the company. New South Capital Management Inc. acquired a new stake in International Money Express in the 3rd quarter valued at $17,055,000. First Eagle Investment Management LLC grew its holdings in shares of International Money Express by 46.9% during the second quarter. First Eagle Investment Management LLC now owns 477,273 shares of the company’s stock valued at $9,946,000 after buying an additional 152,464 shares during the last quarter. Millennium Management LLC increased its position in shares of International Money Express by 92.6% during the second quarter. Millennium Management LLC now owns 191,691 shares of the company’s stock worth $3,995,000 after acquiring an additional 92,154 shares in the last quarter. Millrace Asset Group Inc. acquired a new stake in shares of International Money Express in the 3rd quarter worth about $1,369,000. Finally, Samson Rock Capital LLP bought a new position in International Money Express in the 3rd quarter valued at about $1,276,000. 86.71% of the stock is owned by institutional investors and hedge funds.

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.