Oppenheimer Initiates Coverage on International Money Express (NASDAQ:IMXI)

Oppenheimer started coverage on shares of International Money Express (NASDAQ:IMXI) in a report released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a market perform rating on the stock.

A number of other brokerages also recently weighed in on IMXI. Northland Securities lowered their price target on International Money Express from $24.00 to $23.00 and set an outperform rating on the stock in a report on Thursday, August 8th. BTIG Research restated a neutral rating on shares of International Money Express in a research report on Wednesday, August 7th. Finally, Needham & Company LLC lowered their target price on 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. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, International Money Express currently has an average rating of Moderate Buy and a consensus target price of $24.17.

International Money Express Trading Down 5.0 %

Shares of NASDAQ:IMXI opened at $17.57 on Tuesday. The company has a 50 day moving average of $18.69 and a 200-day moving average of $20.22. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 1.57. The firm has a market cap of $573.48 million, a P/E ratio of 10.52 and a beta of 0.82. International Money Express has a twelve month low of $15.76 and a twelve month high of $23.28.

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

Hedge Funds Weigh In On International Money Express

Several large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its stake in International Money Express by 95.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 97,072 shares of the company’s stock valued at $2,217,000 after buying an additional 47,385 shares during the period. Breach Inlet Capital Management LLC acquired a new stake in shares of International Money Express in the 4th quarter valued at approximately $9,736,000. First Eagle Investment Management LLC raised its position in shares of 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 acquiring an additional 69,250 shares during the period. Janney Montgomery Scott LLC bought a new position in International Money Express during the 1st quarter worth approximately $562,000. Finally, LSV Asset Management grew its holdings in International Money Express by 3,421.5% during the first quarter. LSV Asset Management now owns 692,853 shares of the company’s stock valued at $15,818,000 after purchasing an additional 673,178 shares during the period. 86.71% of the stock is currently 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.