Oppenheimer Initiates Coverage on International Money Express (NASDAQ:IMXI)

Equities researchers at Oppenheimer initiated coverage on shares of International Money Express (NASDAQ:IMXI) in a research report issued on Tuesday, MarketBeat reports. The brokerage set a “market perform” rating on the stock.

Several other equities analysts have also recently issued reports on IMXI. BTIG Research reiterated a “neutral” rating on shares of International Money Express in a report on Wednesday, August 7th. Needham & Company LLC cut their target price on International Money Express from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Northland Securities cut their target price on International Money Express from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, International Money Express presently has an average rating of “Moderate Buy” and a consensus target price of $24.17.

International Money Express Price Performance

International Money Express stock opened at $17.32 on Tuesday. The business’s 50-day simple moving average is $18.62 and its 200 day simple moving average is $20.19. The stock has a market cap of $565.32 million, a price-to-earnings ratio of 10.30 and a beta of 0.81. International Money Express has a 12-month low of $15.76 and a 12-month high of $23.28. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 1.57.

International Money Express (NASDAQ:IMXI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). The firm had revenue of $171.53 million during the quarter, compared to the consensus estimate of $174.89 million. International Money Express had a net margin of 8.78% and a return on equity of 43.97%. International Money Express’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 EPS. As a group, research analysts anticipate that International Money Express will post 1.98 earnings per share for the current year.

Institutional Investors Weigh In On International Money Express

Hedge funds have recently modified their holdings of the business. CWM LLC raised its position in shares of International Money Express by 201.7% during the second quarter. CWM LLC now owns 3,394 shares of the company’s stock worth $71,000 after purchasing an additional 2,269 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of International Money Express during the second quarter worth about $91,000. Quarry LP raised its position in shares of International Money Express by 113.7% during the second quarter. Quarry LP now owns 4,760 shares of the company’s stock worth $99,000 after purchasing an additional 2,533 shares during the period. Meeder Asset Management Inc. raised its position in shares of International Money Express by 1,277.5% during the second quarter. Meeder Asset Management Inc. now owns 6,061 shares of the company’s stock worth $126,000 after purchasing an additional 5,621 shares during the period. Finally, Lazard Asset Management LLC raised its position in International Money Express by 41.5% in the 1st quarter. Lazard Asset Management LLC now owns 6,319 shares of the company’s stock valued at $143,000 after buying an additional 1,853 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

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.