ArrowMark Colorado Holdings LLC Acquires 145,686 Shares of International Money Express, Inc. (NASDAQ:IMXI)

ArrowMark Colorado Holdings LLC raised its holdings in shares of International Money Express, Inc. (NASDAQ:IMXI) by 17.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 994,925 shares of the company’s stock after buying an additional 145,686 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in International Money Express were worth $18,396,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IMXI. New South Capital Management Inc. purchased a new position in International Money Express during the third quarter valued at $17,055,000. LSV Asset Management boosted its stake in shares of International Money Express by 5.2% in the second quarter. LSV Asset Management now owns 728,977 shares of the company’s stock worth $15,192,000 after acquiring an additional 36,124 shares during the period. Royce & Associates LP lifted its holdings in 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 purchasing an additional 49,582 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in International Money Express by 46.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 477,273 shares of the company’s stock worth $9,946,000 after purchasing an additional 152,464 shares in the last quarter. Finally, Mcmorgan & Co. LLC lifted its holdings in shares of International Money Express by 5.0% in the second quarter. Mcmorgan & Co. LLC now owns 195,700 shares of the company’s stock worth $4,078,000 after buying an additional 9,305 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IMXI. BMO Capital Markets upped their target price 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 lifted their price objective on shares of International Money Express from $22.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Northland Securities increased their price target on International Money Express from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Oppenheimer initiated coverage on shares of International Money Express in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. Finally, BTIG Research restated a “neutral” rating on shares of International Money Express in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, International Money Express presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

International Money Express Price Performance

Shares of IMXI stock opened at $21.07 on Monday. The company has a market capitalization of $655.26 million, a PE ratio of 11.77 and a beta of 0.82. 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, Inc. has a 12 month low of $16.17 and a 12 month high of $23.28. The firm’s 50-day moving average is $18.93 and its two-hundred day moving average is $19.44.

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.