Gabelli Funds LLC Raises Stake in International Money Express, Inc. $IMXI

Gabelli Funds LLC boosted its position in International Money Express, Inc. (NASDAQ:IMXI) by 20.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 380,245 shares of the company’s stock after purchasing an additional 63,950 shares during the period. Gabelli Funds LLC’s holdings in International Money Express were worth $5,841,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of IMXI. Raymond James Financial Inc. purchased a new stake in shares of International Money Express during the second quarter valued at approximately $40,000. New York State Common Retirement Fund boosted its stake in shares of International Money Express by 7,457.6% during the third quarter. New York State Common Retirement Fund now owns 8,918 shares of the company’s stock valued at $125,000 after purchasing an additional 8,800 shares during the period. Walleye Capital LLC purchased a new stake in shares of International Money Express during the second quarter valued at approximately $130,000. PenderFund Capital Management Ltd. purchased a new stake in shares of International Money Express during the third quarter valued at approximately $133,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of International Money Express during the fourth quarter valued at approximately $138,000. Hedge funds and other institutional investors own 86.71% of the company’s stock.

International Money Express Stock Performance

NASDAQ:IMXI opened at $15.25 on Thursday. The firm has a market cap of $458.87 million, a PE ratio of 17.94 and a beta of 0.78. International Money Express, Inc. has a fifty-two week low of $8.58 and a fifty-two week high of $15.95. The company has a debt-to-equity ratio of 1.57, a quick ratio of 2.84 and a current ratio of 2.84. The business has a 50 day moving average price of $15.77 and a 200-day moving average price of $15.53.

International Money Express (NASDAQ:IMXI) last released its quarterly earnings data on Monday, May 11th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.28). The company had revenue of $121.95 million for the quarter, compared to analysts’ expectations of $141.02 million. International Money Express had a net margin of 4.34% and a return on equity of 23.26%. Equities research analysts predict that International Money Express, Inc. will post 1.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IMXI. Weiss Ratings lowered International Money Express from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Wall Street Zen lowered International Money Express from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce”.

International Money Express Company Profile

International Money Express, Inc (NASDAQ: IMXI) is a U.S.-based financial services company specializing in cross-border money transfers and digital payment solutions. Through its proprietary IMX platform, the company enables person-to-person transfers, bill payments and cash disbursement services. Its digital offerings include a mobile app and web portal that allow customers to send funds securely to relatives and businesses in multiple countries.

The company operates a network of thousands of agent locations across key remittance corridors in Latin America, the Caribbean and parts of the Asia-Pacific region.