International Money Express (NASDAQ:IMXI) Shares Gap Up to $19.59

International Money Express, Inc. (NASDAQ:IMXI) gapped up before the market opened on Wednesday . The stock had previously closed at $19.59, but opened at $20.53. International Money Express shares last traded at $20.03, with a volume of 107,326 shares trading hands.

Wall Street Analysts Forecast Growth

IMXI has been the topic of a number of analyst reports. Monness Crespi & Hardt began coverage on shares of International Money Express in a report on Wednesday, March 20th. They issued a “buy” rating and a $27.00 price objective on the stock. BMO Capital Markets boosted their price objective on International Money Express from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 target price on shares of International Money Express in a research note on Thursday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, International Money Express presently has an average rating of “Moderate Buy” and an average target price of $25.00.

International Money Express Stock Up 5.5 %

The company has a debt-to-equity ratio of 1.37, a current ratio of 1.94 and a quick ratio of 1.94. The stock has a market capitalization of $712.38 million, a P/E ratio of 12.96 and a beta of 0.76. The stock’s fifty day moving average is $21.30 and its two-hundred day moving average is $20.75.

International Money Express (NASDAQ:IMXI) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $171.78 million during the quarter, compared to the consensus estimate of $175.55 million. International Money Express had a return on equity of 42.30% and a net margin of 9.03%. As a group, research analysts predict that International Money Express, Inc. will post 2.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Joseph Aguilar sold 23,700 shares of International Money Express stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $21.13, for a total value of $500,781.00. Following the transaction, the insider now directly owns 105,677 shares of the company’s stock, valued at $2,232,955.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On International Money Express

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in International Money Express by 10.5% during the third quarter. Vanguard Group Inc. now owns 2,163,976 shares of the company’s stock valued at $36,636,000 after purchasing an additional 205,954 shares in the last quarter. Voss Capital LLC increased its stake in shares of International Money Express by 22.9% in the fourth quarter. Voss Capital LLC now owns 1,680,047 shares of the company’s stock worth $37,112,000 after acquiring an additional 313,135 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of International Money Express by 9.1% in the third quarter. Wellington Management Group LLP now owns 1,651,169 shares of the company’s stock worth $27,954,000 after acquiring an additional 138,002 shares during the last quarter. Investment Management Associates Inc. ADV raised its holdings in shares of International Money Express by 15.0% during the fourth quarter. Investment Management Associates Inc. ADV now owns 881,693 shares of the company’s stock worth $19,477,000 after acquiring an additional 115,294 shares in the last quarter. Finally, LSV Asset Management grew its stake in International Money Express by 3,421.5% in the first quarter. LSV Asset Management now owns 692,853 shares of the company’s stock valued at $15,818,000 after purchasing an additional 673,178 shares in the last quarter. 86.71% of the stock is owned by hedge funds and other 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.