International Money Express (NASDAQ:IMXI) Shares Gap Down to $21.92

Shares of International Money Express, Inc. (NASDAQ:IMXI) gapped down prior to trading on Wednesday . The stock had previously closed at $21.92, but opened at $18.00. International Money Express shares last traded at $18.17, with a volume of 360,491 shares.

Analysts Set New Price Targets

IMXI has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $25.00 price target on shares of International Money Express in a research note on Thursday, May 9th. BMO Capital Markets increased their target price on International Money Express from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Finally, BTIG Research started coverage on International Money Express in a research report on Monday, June 3rd. They set a “buy” rating and a $25.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.00.

International Money Express Stock Down 17.6 %

The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $589.80 million, a P/E ratio of 10.84 and a beta of 0.84. The business has a 50-day moving average price of $20.83 and a 200 day moving average price of $20.98.

International Money Express (NASDAQ:IMXI) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The company had revenue of $150.41 million during the quarter, compared to the consensus estimate of $150.60 million. International Money Express had a return on equity of 43.75% and a net margin of 9.02%. On average, equities analysts expect that International Money Express, Inc. will post 2.04 EPS for the current fiscal year.

Institutional Trading of International Money Express

Institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in International Money Express by 1.0% in the second quarter. Rhumbline Advisers now owns 45,877 shares of the company’s stock worth $956,000 after acquiring an additional 452 shares in the last quarter. SG Americas Securities LLC increased its position in shares of International Money Express by 8.1% during the fourth quarter. SG Americas Securities LLC now owns 8,321 shares of the company’s stock worth $184,000 after purchasing an additional 625 shares in the last quarter. Foyston Gordon & Payne Inc increased its position in shares of International Money Express by 8.2% during the second quarter. Foyston Gordon & Payne Inc now owns 21,798 shares of the company’s stock worth $454,000 after purchasing an additional 1,658 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of International Money Express during the fourth quarter worth approximately $38,000. Finally, Lazard Asset Management LLC increased its position in shares of International Money Express by 41.5% during the first quarter. Lazard Asset Management LLC now owns 6,319 shares of the company’s stock worth $143,000 after purchasing an additional 1,853 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors.

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.