Millrace Asset Group Inc. Buys New Position in International Money Express, Inc. (NASDAQ:IMXI)

Millrace Asset Group Inc. acquired a new position in International Money Express, Inc. (NASDAQ:IMXI - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 74,023 shares of the company's stock, valued at approximately $1,369,000. Millrace Asset Group Inc. owned 0.24% of International Money Express as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IMXI. nVerses Capital LLC boosted its holdings in shares of International Money Express by 133.3% during the third quarter. nVerses Capital LLC now owns 2,100 shares of the company's stock worth $39,000 after purchasing an additional 1,200 shares during the period. CWM LLC boosted its stake in shares of International Money Express by 201.7% during the 2nd quarter. CWM LLC now owns 3,394 shares of the company's stock valued at $71,000 after buying an additional 2,269 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of International Money Express during the 2nd quarter valued at $91,000. Quarry LP grew its holdings 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 valued at $99,000 after acquiring an additional 2,533 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of International Money Express by 1,277.5% in the second quarter. Meeder Asset Management Inc. now owns 6,061 shares of the company's stock worth $126,000 after acquiring an additional 5,621 shares during the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. BTIG Research restated a "neutral" rating on shares of International Money Express in a research note on Wednesday, August 7th. Needham & Company LLC boosted their price target 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. Monness Crespi & Hardt dropped their price objective on International Money Express from $30.00 to $28.00 and set a "buy" rating on the stock in a report on Monday, November 4th. Oppenheimer initiated coverage on shares of International Money Express in a research note on Tuesday, October 1st. They issued a "market perform" rating for the company. Finally, Northland Securities raised their price target on shares of International Money Express from $23.00 to $27.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $27.00.

International Money Express Stock Performance

IMXI stock traded down $0.26 during midday trading on Tuesday, hitting $21.03. 252,514 shares of the company traded hands, compared to its average volume of 260,804. 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 capitalization of $654.03 million, a price-to-earnings ratio of 11.89 and a beta of 0.82. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.12. The business has a 50 day simple moving average of $18.77 and a 200-day simple moving average of $19.43.

International Money Express 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.