UBS Group Has Lowered Expectations for International Money Express (NASDAQ:IMXI) Stock Price

International Money Express (NASDAQ:IMXI) had its price objective cut by research analysts at UBS Group from $22.00 to $17.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential upside of 14.66% from the company’s current price.

IMXI has been the topic of several other reports. Northland Securities boosted their price target on International Money Express from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. BMO Capital Markets boosted their price objective on 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 lowered their price target on International Money Express from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Monness Crespi & Hardt downgraded shares of International Money Express from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, International Money Express currently has a consensus rating of “Hold” and a consensus price target of $24.50.

International Money Express Stock Performance

Shares of NASDAQ IMXI traded down $0.22 during trading hours on Tuesday, hitting $14.83. 90,486 shares of the stock were exchanged, compared to its average volume of 240,532. The firm has a market capitalization of $461.07 million, a P/E ratio of 8.31 and a beta of 0.87. The company’s 50 day moving average is $19.26 and its 200 day moving average is $19.13. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.80 and a quick ratio of 1.80. International Money Express has a one year low of $14.68 and a one year high of $23.28.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IMXI. Principal Financial Group Inc. bought a new stake in shares of International Money Express in the third quarter worth $633,000. Barclays PLC increased its position in shares of International Money Express by 137.1% in the third quarter. Barclays PLC now owns 73,260 shares of the company’s stock valued at $1,355,000 after acquiring an additional 42,367 shares during the last quarter. Forager Capital Management LLC raised its holdings 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 worth $22,580,000 after acquiring an additional 260,000 shares in the last quarter. JPMorgan Chase & Co. increased its position in International Money Express by 8.6% during the third quarter. JPMorgan Chase & Co. now owns 221,109 shares of the company’s stock worth $4,088,000 after buying an additional 17,452 shares during the last quarter. Finally, New South Capital Management Inc. bought a new stake in International Money Express in the third quarter valued at approximately $17,055,000. 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.