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

International Money Express, Inc. (NASDAQ:IMXI) gapped up prior to trading on Friday . The stock had previously closed at $18.50, but opened at $20.07. International Money Express shares last traded at $20.74, with a volume of 36,883 shares changing hands.

Analyst Ratings Changes

IMXI has been the subject of a number of research analyst reports. Northland Securities decreased their target price on International Money Express from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. BTIG Research reissued a “neutral” rating on shares of International Money Express in a research report on Wednesday, August 7th. Needham & Company LLC decreased their target price on International Money Express from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Oppenheimer initiated coverage on International Money Express in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. Finally, Monness Crespi & Hardt decreased their target price on International Money Express from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.60.

International Money Express Stock Up 11.9 %

The business has a 50-day simple moving average of $18.08 and a two-hundred day simple moving average of $19.38. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market capitalization of $675.03 million, a price-to-earnings ratio of 12.40 and a beta of 0.82.

International Money Express (NASDAQ:IMXI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.02). The business had revenue of $171.53 million during the quarter, compared to analyst estimates of $174.89 million. International Money Express had a net margin of 8.78% and a return on equity of 43.97%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share. As a group, equities analysts predict that International Money Express, Inc. will post 1.97 EPS for the current year.

Institutional Trading of International Money Express

Several hedge funds have recently modified their holdings of IMXI. Janney Montgomery Scott LLC acquired a new stake in shares of International Money Express in the 1st quarter valued at approximately $562,000. LSV Asset Management lifted its holdings in shares of International Money Express by 3,421.5% in the 1st quarter. LSV Asset Management now owns 692,853 shares of the company’s stock valued at $15,818,000 after buying an additional 673,178 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of International Money Express by 26.8% in the 1st quarter. Russell Investments Group Ltd. now owns 124,647 shares of the company’s stock valued at $2,846,000 after buying an additional 26,355 shares during the period. First Eagle Investment Management LLC increased its stake in International Money Express by 27.1% in the 1st quarter. First Eagle Investment Management LLC now owns 324,809 shares of the company’s stock valued at $7,415,000 after purchasing an additional 69,250 shares in the last quarter. Finally, Summit Creek Advisors LLC increased its stake in International Money Express by 0.7% in the 1st quarter. Summit Creek Advisors LLC now owns 404,764 shares of the company’s stock valued at $9,241,000 after purchasing an additional 2,634 shares in the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

About International Money Express

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.