International Money Express (NASDAQ:IMXI) Shares Gap Down – Here’s What Happened

International Money Express, Inc. (NASDAQ:IMXI)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $20.11, but opened at $19.44. International Money Express shares last traded at $19.41, with a volume of 20,412 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IMXI. Oppenheimer began coverage on shares of International Money Express in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Monness Crespi & Hardt cut shares of International Money Express from a “buy” rating to a “neutral” rating in a report on Thursday. Needham & Company LLC lifted their price target on shares of International Money Express from $22.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. BMO Capital Markets lifted their price target on shares of International Money Express from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, Northland Securities lifted their price target on shares of International Money Express from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.00.

International Money Express Trading Down 3.5 %

The firm has a 50-day moving average price of $20.93 and a 200-day moving average price of $19.48. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.80 and a current ratio of 1.80. The stock has a market cap of $603.59 million, a PE ratio of 10.84 and a beta of 0.89.

Hedge Funds Weigh In On International Money Express

Hedge funds have recently bought and sold shares of the business. nVerses Capital LLC raised its position in International Money Express by 133.3% in the 3rd quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock worth $39,000 after buying an additional 1,200 shares during the last quarter. Quarry LP raised its position in International Money Express by 113.7% in the 2nd quarter. Quarry LP now owns 4,760 shares of the company’s stock worth $99,000 after buying an additional 2,533 shares during the last quarter. Meeder Asset Management Inc. raised its position in International Money Express by 90.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 11,560 shares of the company’s stock worth $214,000 after buying an additional 5,499 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of International Money Express by 23.4% during the 4th quarter. SG Americas Securities LLC now owns 11,520 shares of the company’s stock valued at $240,000 after purchasing an additional 2,182 shares during the period. Finally, SkyView Investment Advisors LLC grew its stake in shares of International Money Express by 3.2% during the 3rd quarter. SkyView Investment Advisors LLC now owns 20,241 shares of the company’s stock valued at $374,000 after purchasing an additional 637 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

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.