New South Capital Management Inc. Acquires Shares of 922,396 International Money Express, Inc. (NASDAQ:IMXI)

New South Capital Management Inc. acquired a new stake in International Money Express, Inc. (NASDAQ:IMXI - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 922,396 shares of the company's stock, valued at approximately $17,055,000. New South Capital Management Inc. owned approximately 2.83% of International Money Express as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in IMXI. nVerses Capital LLC lifted its stake in International Money Express by 133.3% in the 3rd quarter. nVerses Capital LLC now owns 2,100 shares of the company's stock valued at $39,000 after purchasing an additional 1,200 shares during the last quarter. CWM LLC increased 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 purchasing an additional 2,269 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of International Money Express during the second quarter worth approximately $91,000. Quarry LP increased its holdings in shares of 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 purchasing an additional 2,533 shares during the period. Finally, Meeder Asset Management Inc. increased 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 period. Institutional investors own 86.71% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IMXI. BMO Capital Markets lifted their price target on shares of International Money Express from $27.00 to $30.00 and gave the stock an "outperform" rating in a report on Monday. Monness Crespi & Hardt lowered their price objective on shares of International Money Express from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. Northland Securities raised their price target on shares of International Money Express from $23.00 to $27.00 and gave the stock an "outperform" rating in a report on Monday. Needham & Company LLC lifted their price target on shares of International Money Express from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, BTIG Research reaffirmed a "neutral" rating on shares of International Money Express in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, International Money Express currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.00.

International Money Express Price Performance

Shares of NASDAQ:IMXI traded up $0.15 during midday trading on Tuesday, hitting $21.75. 586,187 shares of the stock were exchanged, compared to its average volume of 259,229. The company has a 50 day moving average price of $18.08 and a 200-day moving average price of $19.36. International Money Express, Inc. has a twelve month low of $16.17 and a twelve month high of $23.28. The stock has a market cap of $709.27 million, a P/E ratio of 12.07 and a beta of 0.82. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 1.57.

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.