International Money Express (NASDAQ:IMXI) Sees Strong Trading Volume – What’s Next?

International Money Express, Inc. (NASDAQ:IMXI) saw unusually-strong trading volume on Monday . Approximately 202,789 shares changed hands during trading, an increase of 31% from the previous session’s volume of 154,573 shares.The stock last traded at $18.64 and had previously closed at $18.14.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IMXI. Northland Securities increased their target price on shares of International Money Express from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Monness Crespi & Hardt lowered shares of International Money Express from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Needham & Company LLC increased their price target on International Money Express from $22.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, BMO Capital Markets boosted their price objective on International Money Express from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.00.

International Money Express Stock Up 0.2 %

The firm has a 50-day moving average of $20.38 and a two-hundred day moving average of $19.34. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $575.04 million, a PE ratio of 10.21 and a beta of 0.87.

Institutional Trading of International Money Express

A number of hedge funds and other institutional investors have recently modified their holdings of IMXI. nVerses Capital LLC raised its holdings in shares of International Money Express by 133.3% in the 3rd quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock valued at $39,000 after buying an additional 1,200 shares during the period. Meeder Asset Management Inc. increased its stake in 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 period. SG Americas Securities LLC lifted its position in shares of International Money Express by 23.4% during the fourth quarter. SG Americas Securities LLC now owns 11,520 shares of the company’s stock worth $240,000 after purchasing an additional 2,182 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of International Money Express during the fourth quarter worth about $332,000. Finally, Intech Investment Management LLC purchased a new position in shares of International Money Express in the fourth quarter valued at approximately $339,000. 86.71% of the stock is owned by institutional investors and hedge funds.

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.