International Money Express Inc (NASDAQ:IMXI) Given Average Recommendation of “Buy” by Analysts

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Shares of International Money Express Inc (NASDAQ:IMXI) have been assigned an average recommendation of “Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $16.75.

Several equities analysts recently weighed in on the stock. ValuEngine cut shares of International Money Express from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Northland Securities set a $17.00 price target on shares of International Money Express and gave the company a “buy” rating in a research report on Wednesday, September 4th. BTIG Research reaffirmed a “buy” rating and issued a $20.00 price target on shares of International Money Express in a research report on Monday, August 12th. Finally, Zacks Investment Research raised shares of International Money Express from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Thursday, August 29th.

In other International Money Express news, insider Solomon Cohen sold 16,508 shares of International Money Express stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $12.75, for a total transaction of $210,477.00. Also, major shareholder William Velez sold 8,000 shares of International Money Express stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $11.96, for a total transaction of $95,680.00. In the last three months, insiders have sold 124,508 shares of company stock worth $1,502,157. Insiders own 43.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of IMXI. Hennessy Advisors Inc. bought a new position in shares of International Money Express during the 2nd quarter worth approximately $494,000. Strs Ohio bought a new position in shares of International Money Express during the 2nd quarter worth approximately $49,000. Anchor Capital Advisors LLC bought a new position in shares of International Money Express during the 2nd quarter worth approximately $1,273,000. Wells Fargo & Company MN lifted its position in shares of International Money Express by 12.2% during the 2nd quarter. Wells Fargo & Company MN now owns 13,640 shares of the company’s stock worth $192,000 after buying an additional 1,484 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of International Money Express during the 2nd quarter worth approximately $677,000. 37.23% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ IMXI traded up $0.08 during trading hours on Tuesday, hitting $13.86. The company’s stock had a trading volume of 336,508 shares, compared to its average volume of 360,130. International Money Express has a 52 week low of $10.31 and a 52 week high of $15.11. The company has a market capitalization of $523.40 million, a PE ratio of -277.20 and a beta of -0.24. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 2.81. The company’s 50-day simple moving average is $13.77 and its two-hundred day simple moving average is $13.02.

International Money Express (NASDAQ:IMXI) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.11. International Money Express had a net margin of 0.56% and a return on equity of 24.08%. The business had revenue of $82.68 million for the quarter, compared to analysts’ expectations of $81.60 million. Research analysts anticipate that International Money Express will post 0.76 EPS for the current fiscal year.

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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Analyst Recommendations for International Money Express (NASDAQ:IMXI)

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