Brokerages Set International Money Express, Inc. (NASDAQ:IMXI) Price Target at $24.50

International Money Express, Inc. (NASDAQ:IMXI) has been assigned a consensus rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $24.50.

IMXI has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of International Money Express in a report on Monday, April 7th. Monness Crespi & Hardt downgraded International Money Express from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Finally, UBS Group lowered their price target on 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.

International Money Express Price Performance

Shares of NASDAQ:IMXI opened at $12.44 on Thursday. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.12. International Money Express has a 1 year low of $11.27 and a 1 year high of $22.38. The business has a fifty day simple moving average of $13.41 and a 200 day simple moving average of $17.61. The firm has a market cap of $381.31 million, a price-to-earnings ratio of 6.95 and a beta of 1.01.

Institutional Investors Weigh In On International Money Express

A number of hedge funds and other institutional investors have recently made changes to their positions in IMXI. Principal Financial Group Inc. bought a new position in International Money Express in the third quarter valued at approximately $633,000. Barclays PLC increased its stake in International Money Express by 137.1% in the third quarter. Barclays PLC now owns 73,260 shares of the company’s stock valued at $1,355,000 after acquiring an additional 42,367 shares during the last quarter. JPMorgan Chase & Co. increased its stake in International Money Express by 8.6% in the third quarter. JPMorgan Chase & Co. now owns 221,109 shares of the company’s stock valued at $4,088,000 after acquiring an additional 17,452 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of International Money Express during the fourth quarter worth $332,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of International Money Express during the fourth quarter worth $429,000. 86.71% of the stock is currently owned by institutional investors and hedge funds.

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.