Needham & Company LLC Trims International Money Express (NASDAQ:IMXI) Target Price to $22.00

International Money Express (NASDAQ:IMXI) had its target price decreased by Needham & Company LLC from $25.00 to $22.00 in a report released on Thursday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other research firms have also issued reports on IMXI. BTIG Research reaffirmed a neutral rating on shares of International Money Express in a research note on Wednesday. BMO Capital Markets upped their price target on International Money Express from $29.00 to $30.00 and gave the stock an outperform rating in a research note on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, International Money Express has an average rating of Moderate Buy and a consensus target price of $24.17.

International Money Express Stock Down 4.0 %

Shares of IMXI traded down $0.69 during trading hours on Thursday, reaching $16.71. The company’s stock had a trading volume of 597,275 shares, compared to its average volume of 247,128. The firm has a market cap of $545.41 million, a price-to-earnings ratio of 10.01 and a beta of 0.84. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 1.24. The company has a 50 day moving average of $20.61 and a two-hundred day moving average of $20.91. International Money Express has a 1-year low of $15.76 and a 1-year high of $23.28.

International Money Express (NASDAQ:IMXI) last issued its earnings results on Wednesday, August 7th. The company reported $0.55 earnings per share 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 analyst estimates of $174.89 million. International Money Express had a return on equity of 43.75% and a net margin of 9.02%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 earnings per share. As a group, research analysts predict that International Money Express will post 2.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. LSV Asset Management raised its holdings in International Money Express by 3,421.5% in the 1st quarter. LSV Asset Management now owns 692,853 shares of the company’s stock valued at $15,818,000 after acquiring an additional 673,178 shares in the last quarter. Boston Partners raised its stake in shares of International Money Express by 1,229.3% in the 4th quarter. Boston Partners now owns 571,103 shares of the company’s stock valued at $12,501,000 after buying an additional 528,139 shares in the last quarter. Breach Inlet Capital Management LLC bought a new position in shares of International Money Express during the 4th quarter worth about $9,736,000. Voss Capital LLC boosted its position in shares of International Money Express by 22.9% during the 4th quarter. Voss Capital LLC now owns 1,680,047 shares of the company’s stock valued at $37,112,000 after acquiring an additional 313,135 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings 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. Institutional investors own 86.71% of the company’s stock.

International Money Express Company Profile

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.