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 trading hands.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on IMXI shares. BTIG Research reaffirmed a “neutral” rating on shares of International Money Express in a research note on Wednesday, August 7th. Needham & Company LLC dropped their price objective on International Money Express from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Oppenheimer began coverage on International Money Express in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Northland Securities dropped their price target 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. Finally, Monness Crespi & Hardt dropped their price target 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.60.

International Money Express Stock Up 11.9 %

The company has a debt-to-equity ratio of 1.57, a current ratio of 1.88 and a quick ratio of 1.88. The firm 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 market cap of $675.03 million, a PE ratio of 12.40 and a beta of 0.82.

International Money Express (NASDAQ:IMXI) last posted its quarterly earnings data 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 return on equity of 43.97% and a net margin of 8.78%. The business had revenue of $171.53 million for the quarter, compared to analyst estimates of $174.89 million. During the same quarter last year, the business earned $0.46 EPS. International Money Express’s revenue for the quarter was up 1.4% compared to the same quarter last year. Research analysts anticipate that International Money Express, Inc. will post 1.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On International Money Express

Several hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. boosted its holdings in shares of International Money Express by 90.7% during the third quarter. Meeder Asset Management Inc. now owns 11,560 shares of the company’s stock worth $214,000 after purchasing an additional 5,499 shares during the last quarter. Seizert Capital Partners LLC boosted its holdings in shares of International Money Express by 3.4% during the third quarter. Seizert Capital Partners LLC now owns 177,610 shares of the company’s stock worth $3,284,000 after purchasing an additional 5,803 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of International Money Express by 9.8% during the third quarter. Royce & Associates LP now owns 557,189 shares of the company’s stock worth $10,302,000 after purchasing an additional 49,582 shares during the last quarter. New South Capital Management Inc. acquired a new stake in shares of International Money Express during the third quarter worth $17,055,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of International Money Express during the third quarter worth $633,000. Institutional investors and hedge funds own 86.71% of the company’s stock.

International Money Express Company 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.