International Money Express Inc (NASDAQ:IMXI) was the target of a large decrease in short interest in August. As of August 15th, there was short interest totalling 641,700 shares, a decrease of 10.1% from the July 15th total of 713,900 shares. Approximately 5.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 153,500 shares, the short-interest ratio is presently 4.2 days.
IMXI has been the subject of a number of recent research reports. Northland Securities reissued a “buy” rating and issued a $17.00 target price on shares of International Money Express in a report on Friday, August 9th. Zacks Investment Research raised International Money Express from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Thursday. ValuEngine cut International Money Express from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, BTIG Research reissued a “buy” rating and issued a $20.00 target price on shares of International Money Express in a report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. International Money Express currently has a consensus rating of “Buy” and an average target price of $16.75.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Walleye Trading Advisors LLC acquired a new stake in shares of International Money Express in the 2nd quarter valued at about $158,000. Walleye Trading LLC acquired a new stake in shares of International Money Express in the 2nd quarter valued at about $182,000. Susquehanna International Group LLP acquired a new stake in shares of International Money Express in the 2nd quarter valued at about $195,000. Citadel Advisors LLC raised its stake in shares of International Money Express by 163.5% in the 2nd quarter. Citadel Advisors LLC now owns 39,937 shares of the company’s stock valued at $563,000 after purchasing an additional 24,781 shares during the period. Finally, Morgan Stanley raised its stake in shares of International Money Express by 356.4% in the 2nd quarter. Morgan Stanley now owns 97,289 shares of the company’s stock valued at $1,371,000 after purchasing an additional 75,972 shares during the period. Institutional investors and hedge funds own 34.45% of the company’s stock.
About International Money Express
International Money Express, Inc, through its subsidiary, operates as a money remittance services company in the United States, Latin America, Mexico, Central and South America, and the Caribbean. The company offers remittance services, including a suite of ancillary financial processing solutions and payment services.
Further Reading: Why is the LIBOR significant?
Receive News & Ratings for International Money Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Money Express and related companies with MarketBeat.com's FREE daily email newsletter.