International Money Express (NASDAQ:IMXI) Shares Gap Down – Here’s What Happened

International Money Express, Inc. (NASDAQ:IMXI)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $20.11, but opened at $19.44. International Money Express shares last traded at $19.41, with a volume of 20,412 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Oppenheimer began coverage on International Money Express in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. Northland Securities boosted their price objective on International Money Express from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Monness Crespi & Hardt downgraded International Money Express from a “buy” rating to a “neutral” rating in a research note on Thursday. BMO Capital Markets boosted their price objective on International Money Express from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, Needham & Company LLC boosted their price objective on International Money Express from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

International Money Express Stock Down 3.5 %

The firm has a market capitalization of $603.59 million, a PE ratio of 10.84 and a beta of 0.89. The company has a fifty day moving average price of $20.93 and a 200-day moving average price of $19.48. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.80 and a current ratio of 1.80.

Institutional Trading of International Money Express

Several hedge funds and other institutional investors have recently bought and sold shares of IMXI. nVerses Capital LLC raised its holdings in International Money Express by 133.3% during 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. Quarry LP increased its stake in International Money Express by 113.7% in the second quarter. Quarry LP now owns 4,760 shares of the company’s stock worth $99,000 after purchasing an additional 2,533 shares during the period. Meeder Asset Management Inc. grew its position in shares of International Money Express by 90.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 11,560 shares of the company’s stock worth $214,000 after buying an additional 5,499 shares in the last quarter. SG Americas Securities LLC grew its position in shares of International Money Express by 23.4% during the 4th quarter. SG Americas Securities LLC now owns 11,520 shares of the company’s stock worth $240,000 after buying an additional 2,182 shares in the last quarter. Finally, SkyView Investment Advisors LLC grew its position in shares of International Money Express by 3.2% during the 3rd quarter. SkyView Investment Advisors LLC now owns 20,241 shares of the company’s stock worth $374,000 after buying an additional 637 shares in the last quarter. Hedge funds and other institutional investors 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.