International Money Express (NASDAQ:IMXI) Shares Gap Up – Should You Buy?

Shares of International Money Express, Inc. (NASDAQ:IMXI) gapped up before the market opened 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 traded.

Analysts Set New Price Targets

IMXI has been the subject of a number of research analyst reports. Needham & Company LLC decreased their target price on International Money Express from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Oppenheimer began coverage on International Money Express in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. BTIG Research reiterated a “neutral” rating on shares of International Money Express in a report on Wednesday, August 7th. Northland Securities reduced their price objective on International Money Express from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Monness Crespi & Hardt lowered their target price on International Money Express from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, International Money Express has an average rating of “Moderate Buy” and an average price target of $25.60.

International Money Express Stock Performance

The company’s 50-day moving average is $18.03 and its two-hundred day moving average is $19.40. The company has a market capitalization of $684.48 million, a P/E ratio of 11.08 and a beta of 0.82. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 1.57.

International Money Express (NASDAQ:IMXI) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.55 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 company had revenue of $171.53 million during the quarter, compared to analysts’ expectations of $174.89 million. During the same quarter in the prior year, the firm posted $0.46 EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. Equities analysts anticipate that International Money Express, Inc. will post 1.97 earnings per share for the current fiscal year.

Institutional Trading of International Money Express

Large investors have recently modified their holdings of the business. nVerses Capital LLC boosted its stake in shares of 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 purchasing an additional 1,200 shares in the last quarter. CWM LLC raised its position in shares of International Money Express by 201.7% in the 2nd quarter. CWM LLC now owns 3,394 shares of the company’s stock worth $71,000 after acquiring an additional 2,269 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of International Money Express in the 2nd quarter valued at approximately $91,000. Quarry LP boosted its position in shares of International Money Express by 113.7% during the second quarter. Quarry LP now owns 4,760 shares of the company’s stock valued at $99,000 after purchasing an additional 2,533 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its stake in International Money Express by 1,277.5% in the second quarter. Meeder Asset Management Inc. now owns 6,061 shares of the company’s stock worth $126,000 after purchasing an additional 5,621 shares during the period. 86.71% of the stock is owned by institutional investors.

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.