Los Angeles Capital Management LLC Decreases Stake in International Money Express, Inc. (NASDAQ:IMXI)

Los Angeles Capital Management LLC lowered its holdings in International Money Express, Inc. (NASDAQ:IMXI) by 11.7% during the second quarter, Holdings Channel reports. The fund owned 35,590 shares of the company’s stock after selling 4,700 shares during the quarter. Los Angeles Capital Management LLC’s holdings in International Money Express were worth $742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Rhumbline Advisers increased its stake in shares of International Money Express by 1.0% in the second quarter. Rhumbline Advisers now owns 45,877 shares of the company’s stock worth $956,000 after acquiring an additional 452 shares during the period. Foyston Gordon & Payne Inc increased its stake in shares of International Money Express by 8.2% in the second quarter. Foyston Gordon & Payne Inc now owns 21,798 shares of the company’s stock worth $454,000 after acquiring an additional 1,658 shares during the period. Access Investment Management LLC increased its stake in shares of International Money Express by 86.8% in the second quarter. Access Investment Management LLC now owns 76,975 shares of the company’s stock worth $1,604,000 after acquiring an additional 35,765 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of International Money Express in the second quarter worth $91,000. Finally, Bank of New York Mellon Corp increased its stake in shares of International Money Express by 5.8% in the second quarter. Bank of New York Mellon Corp now owns 126,966 shares of the company’s stock worth $2,646,000 after acquiring an additional 6,970 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on IMXI shares. Needham & Company LLC cut their price objective on shares of International Money Express from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Northland Securities dropped their price target on shares of International Money Express from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, BTIG Research restated a “neutral” rating on shares of International Money Express in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.17.

International Money Express Stock Up 2.1 %

IMXI stock opened at $18.17 on Friday. The firm has a market cap of $593.07 million, a PE ratio of 10.88 and a beta of 0.82. 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 firm’s fifty day moving average is $19.11 and its 200 day moving average is $20.35. International Money Express, Inc. has a one year low of $15.76 and a one year high of $23.28.

International Money Express (NASDAQ:IMXI) last announced its earnings results on Wednesday, August 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). International Money Express had a net margin of 8.78% and a return on equity of 43.97%. The company had revenue of $171.53 million during the quarter, compared to analyst estimates of $174.89 million. During the same quarter last year, the business earned $0.46 EPS. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, research analysts forecast that International Money Express, Inc. will post 1.98 EPS for the current year.

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.