M&T Bank Corp Acquires 24,175 Shares of International Money Express, Inc. (NASDAQ:IMXI)

M&T Bank Corp grew its holdings in shares of International Money Express, Inc. (NASDAQ:IMXI - Free Report) by 29.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 105,754 shares of the company's stock after purchasing an additional 24,175 shares during the period. M&T Bank Corp owned about 0.34% of International Money Express worth $1,955,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. New South Capital Management Inc. bought a new position in shares of International Money Express in the third quarter worth $17,055,000. Hotchkis & Wiley Capital Management LLC acquired a new stake in International Money Express during the third quarter worth about $4,854,000. Public Employees Retirement System of Ohio bought a new position in International Money Express in the 3rd quarter valued at about $4,598,000. First Eagle Investment Management LLC raised its position in shares of 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 valued at $9,946,000 after buying an additional 152,464 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its holdings in shares of 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 acquiring an additional 145,686 shares during the period. 86.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IMXI has been the topic of a number of recent analyst reports. Oppenheimer started coverage on shares of International Money Express in a research note on Tuesday, October 1st. They issued a "market perform" rating on the stock. Monness Crespi & Hardt decreased their price target on 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. BMO Capital Markets boosted their price target on International Money Express from $27.00 to $30.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. Needham & Company LLC raised their price objective on International Money Express from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Finally, Northland Securities boosted their target price on International Money Express from $23.00 to $27.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.00.

International Money Express Price Performance

Shares of NASDAQ IMXI traded down $0.29 during mid-day trading on Friday, hitting $21.30. 127,957 shares of the stock traded hands, compared to its average volume of 254,379. The company has a market cap of $662.41 million, a PE ratio of 11.90 and a beta of 0.88. International Money Express, Inc. has a twelve month low of $16.17 and a twelve month high of $23.28. 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 firm has a 50 day simple moving average of $19.57 and a two-hundred day simple moving average of $19.48.

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.