Short Interest in International Money Express, Inc. (NASDAQ:IMXI) Drops By 13.8%

International Money Express, Inc. (NASDAQ:IMXI - Get Free Report) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 838,600 shares, a decrease of 13.8% from the December 15th total of 972,400 shares. Currently, 2.9% of the company's stock are sold short. Based on an average daily volume of 224,600 shares, the short-interest ratio is currently 3.7 days.

Wall Street Analysts Forecast Growth

IMXI has been the subject of a number of recent analyst reports. Oppenheimer started coverage on International Money Express in a research report on Tuesday, October 1st. They issued a "market perform" rating for the company. Needham & Company LLC raised their price target on International Money Express from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. BMO Capital Markets upped their price objective on shares of International Money Express from $27.00 to $30.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Northland Securities lifted their target price on shares of International Money Express from $23.00 to $27.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. Finally, Monness Crespi & Hardt cut their price target on shares of International Money Express from $30.00 to $28.00 and set a "buy" rating on the stock in a research note 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.00.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of IMXI. SG Americas Securities LLC increased its stake in shares of International Money Express by 23.4% in the 4th quarter. SG Americas Securities LLC now owns 11,520 shares of the company's stock valued at $240,000 after purchasing an additional 2,182 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of International Money Express by 8.6% in the third quarter. JPMorgan Chase & Co. now owns 221,109 shares of the company's stock valued at $4,088,000 after buying an additional 17,452 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of International Money Express during the 3rd quarter worth approximately $633,000. 272 Capital LP purchased a new position in shares of International Money Express during the 3rd quarter valued at approximately $1,113,000. Finally, SkyView Investment Advisors LLC grew its stake in International Money Express by 3.2% in the 3rd quarter. SkyView Investment Advisors LLC now owns 20,241 shares of the company's stock valued at $374,000 after acquiring an additional 637 shares during the period. 86.71% of the stock is owned by institutional investors and hedge funds.

International Money Express Stock Performance

IMXI traded down $0.17 during midday trading on Monday, hitting $21.04. 110,322 shares of the company were exchanged, compared to its average volume of 129,163. The firm has a market capitalization of $654.34 million, a price-to-earnings ratio of 11.75 and a beta of 0.89. The company's 50 day simple moving average is $20.98 and its 200 day simple moving average is $19.48. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.12. International Money Express has a 1-year low of $16.17 and a 1-year high of $23.28.

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.