Ballast Asset Management LP Sells 7,277 Shares of International Money Express, Inc. (NASDAQ:IMXI)

Ballast Asset Management LP lessened its stake in International Money Express, Inc. (NASDAQ:IMXI) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,243 shares of the company’s stock after selling 7,277 shares during the period. International Money Express makes up about 2.2% of Ballast Asset Management LP’s holdings, making the stock its 16th biggest holding. Ballast Asset Management LP’s holdings in International Money Express were worth $4,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC grew its position in International Money Express by 23.4% in the fourth quarter. SG Americas Securities LLC now owns 11,520 shares of the company’s stock worth $240,000 after acquiring an additional 2,182 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in International Money Express during the fourth quarter worth about $332,000. Intech Investment Management LLC purchased a new position in shares of International Money Express in the 4th quarter worth about $339,000. SkyView Investment Advisors LLC boosted its holdings in shares of International Money Express by 3.2% in the 3rd quarter. SkyView Investment Advisors LLC now owns 20,241 shares of the company’s stock worth $374,000 after purchasing an additional 637 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of International Money Express during the 4th quarter valued at about $429,000. Institutional investors own 86.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IMXI. Monness Crespi & Hardt lowered International Money Express from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Needham & Company LLC cut their price objective on shares of International Money Express from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, UBS Group reduced their target price on shares of International Money Express from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.50.

International Money Express Stock Performance

NASDAQ:IMXI opened at $12.62 on Tuesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.80 and a current ratio of 1.80. International Money Express, Inc. has a fifty-two week low of $12.57 and a fifty-two week high of $23.28. The firm has a market cap of $386.83 million, a PE ratio of 7.05 and a beta of 0.87. The business has a 50 day moving average price of $16.38 and a 200-day moving average price of $18.53.

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.