Alpine Associates Management Inc. Takes $5.85 Million Position in International Money Express, Inc. $IMXI

Alpine Associates Management Inc. acquired a new position in shares of International Money Express, Inc. (NASDAQ:IMXI) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 418,592 shares of the company’s stock, valued at approximately $5,848,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of International Money Express in the second quarter worth about $40,000. CWM LLC grew its stake in International Money Express by 186.5% during the second quarter. CWM LLC now owns 6,624 shares of the company’s stock worth $67,000 after purchasing an additional 4,312 shares during the period. New York State Common Retirement Fund grew its holdings in International Money Express by 7,457.6% in the third quarter. New York State Common Retirement Fund now owns 8,918 shares of the company’s stock worth $125,000 after purchasing an additional 8,800 shares during the period. EMC Capital Management acquired a new position in International Money Express during the 2nd quarter worth approximately $92,000. Finally, Hikari Tsushin Inc. acquired a new stake in International Money Express in the 2nd quarter valued at $127,000. 86.71% of the stock is currently owned by institutional investors.

International Money Express Stock Up 0.1%

Shares of NASDAQ IMXI opened at $15.55 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.03 and a quick ratio of 2.03. The stock has a market capitalization of $462.15 million, a PE ratio of 12.15 and a beta of 0.87. International Money Express, Inc. has a one year low of $8.58 and a one year high of $18.68. The business’s fifty day moving average price is $15.45 and its 200-day moving average price is $14.57.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of International Money Express in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $14.33.

International Money Express Profile

International Money Express, Inc (NASDAQ: IMXI) is a U.S.-based financial services company specializing in cross-border money transfers and digital payment solutions. Through its proprietary IMX platform, the company enables person-to-person transfers, bill payments and cash disbursement services. Its digital offerings include a mobile app and web portal that allow customers to send funds securely to relatives and businesses in multiple countries.

The company operates a network of thousands of agent locations across key remittance corridors in Latin America, the Caribbean and parts of the Asia-Pacific region.