International Money Express, Inc. (NASDAQ:IMXI) Short Interest Down 7.8% in October

International Money Express, Inc. (NASDAQ:IMXI - Get Free Report) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,190,000 shares, a decline of 7.8% from the October 15th total of 1,290,000 shares. Based on an average trading volume of 282,700 shares, the days-to-cover ratio is presently 4.2 days. Currently, 4.1% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IMXI. New South Capital Management Inc. purchased a new position in International Money Express during the 3rd quarter valued at $17,055,000. Hotchkis & Wiley Capital Management LLC purchased a new position in International Money Express in the 3rd quarter worth about $4,854,000. Forager Capital Management LLC lifted its holdings in International Money Express by 27.1% during the 3rd quarter. Forager Capital Management LLC now owns 1,221,174 shares of the company's stock valued at $22,580,000 after buying an additional 260,000 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in International Money Express in the 3rd quarter valued at about $4,598,000. Finally, First Eagle Investment Management LLC grew its stake in 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 worth $9,946,000 after acquiring an additional 152,464 shares in the last quarter. Institutional investors own 86.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on IMXI shares. Oppenheimer began coverage on shares of International Money Express in a report on Tuesday, October 1st. They issued a "market perform" rating for the company. Monness Crespi & Hardt reduced their target price on shares of International Money Express from $30.00 to $28.00 and set a "buy" rating on the stock in a report on Monday, November 4th. BTIG Research reaffirmed a "neutral" rating on shares of International Money Express in a report on Wednesday, August 7th. Northland Securities boosted their price objective 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. Finally, BMO Capital Markets upped their price objective on International Money Express from $27.00 to $30.00 and gave the company an "outperform" rating in a research 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. According to MarketBeat.com, International Money Express has an average rating of "Moderate Buy" and a consensus target price of $27.00.

International Money Express Trading Down 0.9 %

NASDAQ:IMXI traded down $0.18 during mid-day trading on Monday, hitting $20.69. 202,641 shares of the stock traded hands, compared to its average volume of 261,071. The company has a quick ratio of 1.88, a current ratio of 1.80 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $643.46 million, a price-to-earnings ratio of 11.75 and a beta of 0.82. International Money Express has a 52 week low of $16.17 and a 52 week high of $23.28. The firm's 50 day moving average is $18.42 and its two-hundred day moving average is $19.38.

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.