Polar Asset Management Partners Inc. Makes New $10.18 Million Investment in International Money Express, Inc. $IMXI

Polar Asset Management Partners Inc. purchased a new position in shares of International Money Express, Inc. (NASDAQ:IMXI) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 704,613 shares of the company’s stock, valued at approximately $10,182,000.

Other hedge funds have also made changes to their positions in the company. Creative Planning bought a new position in shares of International Money Express in the 2nd quarter valued at approximately $272,000. Norges Bank bought a new stake in International Money Express during the second quarter worth approximately $1,124,000. Quantbot Technologies LP boosted its position in International Money Express by 35.5% during the second quarter. Quantbot Technologies LP now owns 32,423 shares of the company’s stock worth $327,000 after purchasing an additional 8,487 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in International Money Express by 2.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 287,744 shares of the company’s stock valued at $2,903,000 after purchasing an additional 7,256 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in International Money Express by 2.1% during the second quarter. First Trust Advisors LP now owns 93,410 shares of the company’s stock valued at $943,000 after purchasing an additional 1,881 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

International Money Express Stock Down 0.8%

Shares of IMXI stock opened at $14.08 on Wednesday. The stock has a 50 day moving average of $13.57 and a 200-day moving average of $14.88. International Money Express, Inc. has a 12 month low of $11.15 and a 12 month high of $15.95. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.76. The firm has a market cap of $425.36 million, a PE ratio of 22.71 and a beta of 0.76.

Analysts Set New Price Targets

A number of analysts have recently weighed in on IMXI shares. Wall Street Zen upgraded shares of International Money Express from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of International Money Express from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, International Money Express presently has an average rating of “Hold”.

International Money Express 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.