INTERNATIONAL MONEY EXPRESS (NASDAQ:IMXI) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of INTERNATIONAL MONEY EXPRESS (NASDAQ:IMXI) from a hold rating to a strong sell rating in a report issued on Monday morning,Zacks.com reports.

A number of other equities analysts have also commented on the company. UBS Group reduced their price objective on INTERNATIONAL MONEY EXPRESS from $17.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Wall Street Zen raised INTERNATIONAL MONEY EXPRESS from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Northland Capmk lowered INTERNATIONAL MONEY EXPRESS from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 11th. Finally, BMO Capital Markets lowered INTERNATIONAL MONEY EXPRESS from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $18.00 to $11.00 in a research note on Friday, May 9th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, INTERNATIONAL MONEY EXPRESS currently has a consensus rating of “Hold” and a consensus price target of $19.60.

INTERNATIONAL MONEY EXPRESS Stock Performance

Shares of NASDAQ:IMXI opened at $14.42 on Monday. The business’s fifty day moving average price is $11.05 and its two-hundred day moving average price is $12.32. INTERNATIONAL MONEY EXPRESS has a fifty-two week low of $8.58 and a fifty-two week high of $22.37. The stock has a market capitalization of $427.99 million, a price-to-earnings ratio of 8.79 and a beta of 1.02. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.63 and a quick ratio of 1.63.

Hedge Funds Weigh In On INTERNATIONAL MONEY EXPRESS

Several large investors have recently made changes to their positions in the company. Voss Capital LP lifted its stake in shares of INTERNATIONAL MONEY EXPRESS by 6.7% during the first quarter. Voss Capital LP now owns 1,947,854 shares of the company’s stock valued at $24,582,000 after acquiring an additional 122,854 shares during the period. Forager Capital Management LLC lifted its stake in shares of INTERNATIONAL MONEY EXPRESS by 30.5% during the second quarter. Forager Capital Management LLC now owns 1,946,174 shares of the company’s stock valued at $19,637,000 after acquiring an additional 455,000 shares during the period. LSV Asset Management lifted its stake in shares of INTERNATIONAL MONEY EXPRESS by 4.0% during the first quarter. LSV Asset Management now owns 1,126,303 shares of the company’s stock valued at $14,214,000 after acquiring an additional 43,523 shares during the period. Geode Capital Management LLC lifted its stake in shares of INTERNATIONAL MONEY EXPRESS by 1.5% during the second quarter. Geode Capital Management LLC now owns 858,058 shares of the company’s stock valued at $8,659,000 after acquiring an additional 12,894 shares during the period. Finally, Breach Inlet Capital Management LLC lifted its stake in shares of INTERNATIONAL MONEY EXPRESS by 32.8% during the first quarter. Breach Inlet Capital Management LLC now owns 679,132 shares of the company’s stock valued at $8,571,000 after acquiring an additional 167,887 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.

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.