International Money Express Inc (NASDAQ:IMXI) Short Interest Down 10.1% in August

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.

Shares of IMXI traded down $0.53 during mid-day trading on Thursday, reaching $13.09. The company had a trading volume of 90,316 shares, compared to its average volume of 111,928. International Money Express has a twelve month low of $9.31 and a twelve month high of $15.11. The company has a debt-to-equity ratio of 2.81, a current ratio of 1.71 and a quick ratio of 1.71. The company’s 50-day moving average is $14.05 and its 200-day moving average is $12.77. The company has a market capitalization of $513.91 million, a P/E ratio of -261.80 and a beta of -0.31.

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.

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