Principal Financial Group Inc. Buys Shares of 34,258 International Money Express, Inc. (NASDAQ:IMXI)

Principal Financial Group Inc. purchased a new stake in International Money Express, Inc. (NASDAQ:IMXI - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,258 shares of the company's stock, valued at approximately $633,000. Principal Financial Group Inc. owned about 0.11% of International Money Express at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of IMXI. nVerses Capital LLC grew its holdings in International Money Express by 133.3% during the 3rd quarter. nVerses Capital LLC now owns 2,100 shares of the company's stock valued at $39,000 after buying an additional 1,200 shares during the last quarter. CWM LLC grew its holdings in shares of International Money Express by 201.7% during the second quarter. CWM LLC now owns 3,394 shares of the company's stock worth $71,000 after buying an additional 2,269 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of International Money Express in the second quarter valued at approximately $91,000. Quarry LP boosted its position in International Money Express by 113.7% during the second quarter. Quarry LP now owns 4,760 shares of the company's stock worth $99,000 after acquiring an additional 2,533 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in shares of International Money Express by 1,277.5% during the second quarter. Meeder Asset Management Inc. now owns 6,061 shares of the company's stock worth $126,000 after purchasing an additional 5,621 shares during the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on IMXI shares. Needham & Company LLC upped their price target on shares of International Money Express from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Oppenheimer began coverage on International Money Express in a report on Tuesday, October 1st. They issued a "market perform" rating on the stock. BTIG Research reissued a "neutral" rating on shares of International Money Express in a research report on Wednesday, August 7th. Northland Securities increased 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 report on Monday, November 11th. Finally, BMO Capital Markets boosted their target price 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $27.00.

International Money Express Stock Up 0.6 %

IMXI traded up $0.12 on Friday, reaching $21.32. The company's stock had a trading volume of 185,407 shares, compared to its average volume of 365,879. International Money Express, Inc. has a 1 year low of $16.17 and a 1 year high of $23.28. The business's 50 day moving average is $18.72 and its 200 day moving average is $19.43. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.80 and a quick ratio of 1.80. The stock has a market cap of $663.03 million, a price-to-earnings ratio of 11.91 and a beta of 0.82.

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.