Lord Abbett & CO. LLC Decreases Stake in International Money Express, Inc. (NASDAQ:IMXI)

Lord Abbett & CO. LLC cut its holdings in shares of International Money Express, Inc. (NASDAQ:IMXI) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 395,250 shares of the company’s stock after selling 17,000 shares during the quarter. Lord Abbett & CO. LLC owned about 1.27% of International Money Express worth $7,308,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of IMXI. Principal Financial Group Inc. purchased a new position in International Money Express in the 3rd quarter worth approximately $633,000. American Century Companies Inc. lifted its position in International Money Express by 44.1% during the second quarter. American Century Companies Inc. now owns 147,260 shares of the company’s stock worth $3,069,000 after buying an additional 45,068 shares in the last quarter. Forager Capital Management LLC boosted its stake in International Money Express by 27.1% during the third quarter. Forager Capital Management LLC now owns 1,221,174 shares of the company’s stock worth $22,580,000 after buying an additional 260,000 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in International Money Express by 46.9% during the second quarter. First Eagle Investment Management LLC now owns 477,273 shares of the company’s stock worth $9,946,000 after buying an additional 152,464 shares during the last quarter. Finally, New South Capital Management Inc. acquired a new stake in shares of International Money Express in the 3rd quarter worth $17,055,000. Hedge funds and other institutional investors own 86.71% of the company’s stock.

International Money Express Price Performance

International Money Express stock opened at $21.37 on Tuesday. The company’s 50 day simple moving average is $19.57 and its 200-day simple moving average is $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. International Money Express, Inc. has a 1 year low of $16.17 and a 1 year high of $23.28. The company has a market capitalization of $664.59 million, a price-to-earnings ratio of 11.94 and a beta of 0.88.

Analyst Upgrades and Downgrades

IMXI has been the topic of several recent research reports. Monness Crespi & Hardt lowered their price target on shares of International Money Express from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Oppenheimer initiated coverage on shares of International Money Express in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. BMO Capital Markets raised their price target on shares of International Money Express from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Northland Securities upped their price objective on International Money Express from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, Needham & Company LLC increased their price objective on International Money Express from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, International Money Express currently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

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.