International Money Express, Inc. (NASDAQ:IMXI) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in International Money Express, Inc. (NASDAQ:IMXI) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 114,030 shares of the company’s stock after acquiring an additional 11,388 shares during the period. Bank of New York Mellon Corp’s holdings in International Money Express were worth $2,375,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. purchased a new stake in shares of International Money Express during the third quarter worth about $633,000. Barclays PLC increased its stake in shares of International Money Express by 137.1% during the third quarter. Barclays PLC now owns 73,260 shares of the company’s stock worth $1,355,000 after purchasing an additional 42,367 shares in the last quarter. Forager Capital Management LLC increased its stake in shares of 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 worth $22,580,000 after purchasing an additional 260,000 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of International Money Express by 8.6% during the third quarter. JPMorgan Chase & Co. now owns 221,109 shares of the company’s stock worth $4,088,000 after purchasing an additional 17,452 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of International Money Express during the third quarter worth about $4,598,000. Hedge funds and other institutional investors own 86.71% of the company’s stock.

International Money Express Stock Performance

Shares of IMXI stock opened at $13.06 on Friday. The firm’s 50 day moving average price is $17.29 and its 200-day moving average price is $18.72. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.80 and a current ratio of 1.80. International Money Express, Inc. has a one year low of $12.82 and a one year high of $23.28. The firm has a market cap of $400.32 million, a P/E ratio of 7.30 and a beta of 0.87.

Wall Street Analysts Forecast Growth

IMXI has been the subject of a number of research reports. Monness Crespi & Hardt cut shares of International Money Express from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. UBS Group cut their target price on shares of International Money Express from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Finally, Needham & Company LLC dropped their price objective on shares of 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 investment 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.com, International Money Express currently has a consensus rating of “Hold” and an average target price of $24.50.

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.