HighTower Advisors LLC Makes New Investment in INTERNATIONAL MONEY EXPRESS, INC. $IMXI

HighTower Advisors LLC purchased a new stake in INTERNATIONAL MONEY EXPRESS, INC. (NASDAQ:IMXI) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 12,743 shares of the company’s stock, valued at approximately $161,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in IMXI. New York State Common Retirement Fund lifted its holdings in INTERNATIONAL MONEY EXPRESS by 41.6% in the first quarter. New York State Common Retirement Fund now owns 10,218 shares of the company’s stock valued at $129,000 after acquiring an additional 3,000 shares during the last quarter. Legato Capital Management LLC purchased a new stake in INTERNATIONAL MONEY EXPRESS in the first quarter valued at $161,000. Aigen Investment Management LP acquired a new position in shares of INTERNATIONAL MONEY EXPRESS in the 1st quarter valued at $196,000. Lazard Asset Management LLC grew its holdings in shares of INTERNATIONAL MONEY EXPRESS by 6.1% during the 4th quarter. Lazard Asset Management LLC now owns 11,361 shares of the company’s stock worth $235,000 after purchasing an additional 654 shares during the period. Finally, State of Wyoming increased its position in shares of INTERNATIONAL MONEY EXPRESS by 33.5% during the 4th quarter. State of Wyoming now owns 14,316 shares of the company’s stock worth $298,000 after purchasing an additional 3,593 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

INTERNATIONAL MONEY EXPRESS Stock Performance

Shares of IMXI opened at $14.57 on Friday. The stock has a 50 day moving average price of $11.59 and a 200 day moving average price of $12.16. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $432.44 million, a price-to-earnings ratio of 8.88 and a beta of 0.96. INTERNATIONAL MONEY EXPRESS, INC. has a 52-week low of $8.58 and a 52-week high of $22.37.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. UBS Group decreased their target price on shares of INTERNATIONAL MONEY EXPRESS from $17.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Zacks Research downgraded shares of INTERNATIONAL MONEY EXPRESS from a “hold” rating to a “strong sell” rating in a research note on Monday, August 25th. BMO Capital Markets cut shares of INTERNATIONAL MONEY EXPRESS from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $18.00 to $11.00 in a research report on Friday, May 9th. Northland Capmk downgraded shares of INTERNATIONAL MONEY EXPRESS from a “strong-buy” rating to a “hold” rating in a report on Monday, August 11th. Finally, Wall Street Zen raised INTERNATIONAL MONEY EXPRESS from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.60.

INTERNATIONAL MONEY EXPRESS 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.