International Money Express, Inc. (NASDAQ:IMXI) Sees Significant Growth in Short Interest

International Money Express, Inc. (NASDAQ:IMXI - Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,370,000 shares, an increase of 53.8% from the February 28th total of 891,000 shares. Based on an average trading volume of 275,700 shares, the days-to-cover ratio is currently 5.0 days. Currently, 4.8% of the shares of the stock are sold short.

Institutional Investors Weigh In On International Money Express

Large investors have recently added to or reduced their stakes in the stock. Voss Capital LP increased its position in shares of International Money Express by 6.5% during the 4th quarter. Voss Capital LP now owns 1,825,000 shares of the company's stock valued at $38,015,000 after purchasing an additional 111,562 shares during the last quarter. Wellington Management Group LLP boosted its stake in International Money Express by 7.5% during the third quarter. Wellington Management Group LLP now owns 1,556,925 shares of the company's stock worth $28,788,000 after buying an additional 109,293 shares during the period. Forager Capital Management LLC increased its position in International Money Express by 27.1% during the third quarter. Forager Capital Management LLC now owns 1,221,174 shares of the company's stock valued at $22,580,000 after acquiring an additional 260,000 shares during the last quarter. New South Capital Management Inc. increased its position in International Money Express by 22.7% during the fourth quarter. New South Capital Management Inc. now owns 1,132,107 shares of the company's stock valued at $23,582,000 after acquiring an additional 209,711 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of International Money Express by 40.7% in the fourth quarter. LSV Asset Management now owns 1,082,780 shares of the company's stock valued at $22,554,000 after acquiring an additional 313,303 shares during the period. 86.71% of the stock is owned by institutional investors.

International Money Express Price Performance

Shares of International Money Express stock traded down $0.85 during trading hours on Thursday, reaching $12.17. The company's stock had a trading volume of 113,030 shares, compared to its average volume of 263,612. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.80 and a quick ratio of 1.80. International Money Express has a one year low of $11.98 and a one year high of $23.02. The firm has a 50 day moving average price of $16.08 and a 200-day moving average price of $18.46. The stock has a market cap of $373.03 million, a P/E ratio of 6.80 and a beta of 0.87.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Needham & Company LLC reduced their price target on shares of International Money Express from $25.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. UBS Group cut their price objective on International Money Express from $22.00 to $17.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Finally, Monness Crespi & Hardt downgraded International Money Express from a "buy" rating to a "neutral" rating in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $24.50.

About International Money Express

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.