International Money Express, Inc. (NASDAQ:IMXI) Sees Significant Decline in Short Interest

International Money Express, Inc. (NASDAQ:IMXI) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 838,600 shares, a drop of 13.8% from the December 15th total of 972,400 shares. Approximately 2.9% of the company’s shares are short sold. Based on an average daily volume of 224,600 shares, the short-interest ratio is currently 3.7 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its position in 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 last quarter. Forager Capital Management LLC grew its position in 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 last quarter. ArrowMark Colorado Holdings LLC grew its position in International Money Express by 17.2% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 994,925 shares of the company’s stock worth $18,396,000 after purchasing an additional 145,686 shares during the last quarter. New South Capital Management Inc. purchased a new stake in shares of International Money Express in the third quarter valued at about $17,055,000. Finally, Royce & Associates LP grew its holdings in International Money Express by 9.8% during the third quarter. Royce & Associates LP now owns 557,189 shares of the company’s stock worth $10,302,000 after acquiring an additional 49,582 shares during the period. 86.71% of the stock is owned by hedge funds and other institutional investors.

International Money Express Stock Performance

International Money Express stock traded down $0.17 during midday trading on Friday, hitting $21.04. 110,322 shares of the company’s stock were exchanged, compared to its average volume of 129,163. International Money Express has a 12-month low of $16.17 and a 12-month high of $23.28. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.80 and a current ratio of 1.80. The stock has a market cap of $654.34 million, a price-to-earnings ratio of 11.75 and a beta of 0.89. The firm’s 50 day simple moving average is $20.99 and its 200 day simple moving average is $19.48.

Analyst Ratings Changes

A number of equities analysts recently weighed in on IMXI shares. BMO Capital Markets increased their price objective on shares of International Money Express from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Needham & Company LLC increased their target price on shares of International Money Express from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Northland Securities increased their target price on shares of International Money Express from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Oppenheimer assumed coverage on shares of International Money Express in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. Finally, Monness Crespi & Hardt reduced their target price on shares of International Money Express from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

About International Money Express

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.