Investment Management Associates Inc. ADV Has $16.32 Million Position in International Money Express, Inc. (NASDAQ:IMXI)

Investment Management Associates Inc. ADV reduced its stake in International Money Express, Inc. (NASDAQ:IMXI - Free Report) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 882,702 shares of the company's stock after selling 39,609 shares during the period. International Money Express accounts for approximately 6.4% of Investment Management Associates Inc. ADV's holdings, making the stock its 6th biggest position. Investment Management Associates Inc. ADV owned approximately 2.71% of International Money Express worth $16,321,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. nVerses Capital LLC raised its stake in shares of 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 buying an additional 1,200 shares in the last quarter. CWM LLC raised its stake in 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 acquiring 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 grew its position in shares of International Money Express by 113.7% during the 2nd quarter. Quarry LP now owns 4,760 shares of the company's stock worth $99,000 after buying an additional 2,533 shares during the period. Finally, Meeder Asset Management Inc. grew its position in International Money Express by 1,277.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 6,061 shares of the company's stock valued at $126,000 after purchasing an additional 5,621 shares during the period. 86.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Needham & Company LLC boosted their price objective on International Money Express from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Tuesday. BTIG Research restated a "neutral" rating on shares of International Money Express in a research note on Wednesday, August 7th. BMO Capital Markets increased their target price on International Money Express from $27.00 to $30.00 and gave the company an "outperform" rating in a report on Monday. Northland Securities increased their price objective on International Money Express from $23.00 to $27.00 and gave the company an "outperform" rating in a research note on Monday. Finally, Monness Crespi & Hardt dropped their price target on 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $27.00.

International Money Express Price Performance

Shares of International Money Express stock traded up $0.15 during trading on Tuesday, reaching $21.75. 586,187 shares of the company's stock were exchanged, compared to its average volume of 259,229. International Money Express, Inc. has a 1-year low of $16.17 and a 1-year high of $23.28. The firm's 50-day moving average price is $18.08 and its 200 day moving average price is $19.36. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market cap of $709.27 million, a P/E ratio of 12.07 and a beta of 0.82.

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.