International Money Express, Inc. (NASDAQ:IMXI) Given Average Rating of “Hold” by Brokerages

Shares of International Money Express, Inc. (NASDAQ:IMXI) have received an average recommendation of “Hold” from the six research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $14.3333.

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of International Money Express in a research note on Monday, December 29th.

International Money Express Stock Down 0.1%

NASDAQ IMXI opened at $15.55 on Wednesday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 1.17. International Money Express has a 52 week low of $8.58 and a 52 week high of $18.54. The firm has a market capitalization of $462.15 million, a price-to-earnings ratio of 12.15 and a beta of 0.87. The company has a fifty day moving average of $15.46 and a two-hundred day moving average of $14.79.

Institutional Investors Weigh In On International Money Express

Several hedge funds and other institutional investors have recently modified their holdings of IMXI. Raymond James Financial Inc. purchased a new position in International Money Express during the 2nd quarter valued at $40,000. CWM LLC lifted its position in shares of 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 last quarter. Russell Investments Group Ltd. grew its holdings in shares of International Money Express by 31.2% in the fourth quarter. Russell Investments Group Ltd. now owns 7,734 shares of the company’s stock worth $119,000 after purchasing an additional 1,840 shares during the last quarter. New York State Common Retirement Fund increased its stake in International Money Express by 7,457.6% in the 3rd quarter. New York State Common Retirement Fund now owns 8,918 shares of the company’s stock worth $125,000 after buying an additional 8,800 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in International Money Express during the 4th quarter valued at about $138,000. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

International Money Express Company 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.