International Money Express (NASDAQ:IMXI) Shares Gap Up - Should You Buy?

International Money Express, Inc. (NASDAQ:IMXI - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $18.50, but opened at $20.07. International Money Express shares last traded at $20.74, with a volume of 36,883 shares traded.

Analyst Ratings Changes

A number of brokerages have recently commented on IMXI. Monness Crespi & Hardt lowered their price objective on International Money Express from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Monday. Oppenheimer began coverage on International Money Express in a research report on Tuesday, October 1st. They set a "market perform" rating for the company. BTIG Research reissued a "neutral" rating on shares of International Money Express in a research report on Wednesday, August 7th. Northland Securities lowered their price objective on International Money Express from $24.00 to $23.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. Finally, Needham & Company LLC lowered their price objective on International Money Express from $25.00 to $22.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Two equities research 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $25.60.

International Money Express Stock Performance

The firm has a 50 day moving average of $18.08 and a two-hundred day moving average of $19.40. The stock has a market cap of $675.03 million, a PE ratio of 12.40 and a beta of 0.82. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.88 and a quick ratio of 1.88.

International Money Express (NASDAQ:IMXI - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.02). The business had revenue of $171.53 million for the quarter, compared to analysts' expectations of $174.89 million. International Money Express had a return on equity of 43.97% and a net margin of 8.78%. International Money Express's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 EPS. Research analysts predict that International Money Express, Inc. will post 1.97 EPS for the current fiscal year.

Institutional Investors Weigh In On International Money Express

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMXI. Janney Montgomery Scott LLC purchased a new stake in International Money Express in the first quarter valued at approximately $562,000. LSV Asset Management lifted its stake in International Money Express by 3,421.5% in the first quarter. LSV Asset Management now owns 692,853 shares of the company's stock valued at $15,818,000 after buying an additional 673,178 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in International Money Express by 26.8% in the first quarter. Russell Investments Group Ltd. now owns 124,647 shares of the company's stock valued at $2,846,000 after buying an additional 26,355 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in International Money Express by 27.1% in the first quarter. First Eagle Investment Management LLC now owns 324,809 shares of the company's stock valued at $7,415,000 after buying an additional 69,250 shares during the last quarter. Finally, Summit Creek Advisors LLC lifted its stake in International Money Express by 0.7% in the first quarter. Summit Creek Advisors LLC now owns 404,764 shares of the company's stock valued at $9,241,000 after buying an additional 2,634 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company's stock.

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.