Needham & Company LLC Cuts International Money Express (NASDAQ:IMXI) Price Target to $20.00

International Money Express (NASDAQ:IMXI) had its price target decreased by Needham & Company LLC from $25.00 to $20.00 in a research note published on Monday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other research firms also recently issued reports on IMXI. Northland Securities lifted 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 report on Monday, November 11th. Monness Crespi & Hardt downgraded shares of International Money Express from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Finally, BMO Capital Markets lifted 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $24.50.

International Money Express Stock Performance

NASDAQ IMXI opened at $14.23 on Monday. The company has a fifty day simple moving average of $19.14 and a 200 day simple moving average of $19.11. International Money Express has a 12-month low of $14.10 and a 12-month high of $23.28. 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 company has a market cap of $436.18 million, a P/E ratio of 7.95 and a beta of 0.87.

Hedge Funds Weigh In On International Money Express

Several large investors have recently bought and sold shares of the stock. Voss Capital LP lifted its stake in International Money Express by 6.5% during the 4th quarter. Voss Capital LP now owns 1,825,000 shares of the company’s stock valued at $38,015,000 after acquiring an additional 111,562 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of International Money Express by 7.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,556,925 shares of the company’s stock worth $28,788,000 after purchasing an additional 109,293 shares during the period. Forager Capital Management LLC raised its stake in shares of International Money Express by 27.1% during the 3rd quarter. Forager Capital Management LLC now owns 1,221,174 shares of the company’s stock worth $22,580,000 after purchasing an additional 260,000 shares during the period. New South Capital Management Inc. raised its stake in shares of International Money Express by 22.7% during the 4th quarter. New South Capital Management Inc. now owns 1,132,107 shares of the company’s stock worth $23,582,000 after purchasing an additional 209,711 shares during the period. Finally, LSV Asset Management raised its stake in shares of International Money Express by 40.7% during the 4th quarter. LSV Asset Management now owns 1,082,780 shares of the company’s stock worth $22,554,000 after purchasing an additional 313,303 shares during the period. 86.71% of the stock is currently owned by 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.