International Money Express (NASDAQ:IMXI – Get Free Report) had its price target decreased by equities researchers at Northland Securities from $24.00 to $23.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Northland Securities’ price objective suggests a potential upside of 32.18% from the stock’s previous close.
A number of other equities research analysts have also weighed in on the company. BMO Capital Markets lifted their price objective on International Money Express from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. BTIG Research reiterated a “neutral” rating on shares of International Money Express in a research report on Wednesday. Finally, Needham & Company LLC reduced their price target on shares of International Money Express from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, International Money Express currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.17.
Get Our Latest Stock Report on IMXI
International Money Express Stock Performance
International Money Express (NASDAQ:IMXI – Get Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. International Money Express had a return on equity of 43.75% and a net margin of 9.02%. The company had revenue of $150.41 million for the quarter, compared to analyst estimates of $150.60 million. On average, equities analysts forecast that International Money Express will post 2.04 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Rhumbline Advisers raised its position in shares of International Money Express by 1.0% during the 2nd quarter. Rhumbline Advisers now owns 45,877 shares of the company’s stock worth $956,000 after purchasing an additional 452 shares during the last quarter. SG Americas Securities LLC grew its stake in International Money Express by 8.1% in the 4th quarter. SG Americas Securities LLC now owns 8,321 shares of the company’s stock worth $184,000 after acquiring an additional 625 shares during the period. Foyston Gordon & Payne Inc grew its stake in International Money Express by 8.2% in the 2nd quarter. Foyston Gordon & Payne Inc now owns 21,798 shares of the company’s stock worth $454,000 after acquiring an additional 1,658 shares during the period. International Assets Investment Management LLC purchased a new stake in International Money Express in the 4th quarter worth approximately $38,000. Finally, Lazard Asset Management LLC grew its stake 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 worth $143,000 after acquiring an additional 1,853 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.
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.
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