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

International Money Express, Inc. (NASDAQ:IMXI) saw a large 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. Currently, 4.8% of the company’s stock are short sold. Based on an average daily volume of 275,700 shares, the short-interest ratio is presently 5.0 days.

Analysts Set New Price Targets

IMXI has been the subject of several research reports. Monness Crespi & Hardt lowered International Money Express from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. UBS Group lowered their target price on shares of International Money Express from $22.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, Needham & Company LLC decreased their target price on International Money Express from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, International Money Express has a consensus rating of “Hold” and an average price target of $24.50.

Institutional Investors Weigh In On International Money Express

A number of large investors have recently bought and sold shares of IMXI. Quantbot Technologies LP increased its holdings in shares of International Money Express by 433.9% in the third quarter. Quantbot Technologies LP now owns 30,627 shares of the company’s stock valued at $566,000 after purchasing an additional 24,891 shares in the last quarter. Martingale Asset Management L P lifted its stake in shares of International Money Express by 6.4% in the 3rd quarter. Martingale Asset Management L P now owns 42,370 shares of the company’s stock valued at $783,000 after purchasing an additional 2,563 shares during the period. 272 Capital LP bought a new position in shares of International Money Express in the 3rd quarter worth $390,000. ArrowMark Colorado Holdings LLC lifted its stake in International Money Express by 17.2% in the third quarter. ArrowMark Colorado Holdings LLC now owns 994,925 shares of the company’s stock valued at $18,396,000 after buying an additional 145,686 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of International Money Express in the 3rd quarter valued at approximately $4,854,000. 86.71% of the stock is currently owned by institutional investors.

International Money Express Trading Down 2.5 %

Shares of IMXI stock opened at $12.62 on Tuesday. The company has a market capitalization of $386.83 million, a P/E ratio of 7.05 and a beta of 0.87. The firm has a 50-day moving average price of $16.38 and a 200 day moving average price of $18.53. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.12. International Money Express has a 12-month low of $12.57 and a 12-month high of $23.28.

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.