International Money Express (NASDAQ:IMXI) Stock Gets Price Target Cut from UBS Group

International Money Express (NASDAQ:IMXI) had its target price trimmed by UBS Group from $16.00 to $7.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts have also recently commented on IMXI. Wall Street Zen raised shares of International Money Express from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings cut International Money Express from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $7.00.

International Money Express Stock Down 1.6%

Shares of IMXI traded down $0.10 during mid-day trading on Thursday, hitting $6.29. 1,369,702 shares of the company’s stock were exchanged, compared to its average volume of 1,132,158. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.53 and a quick ratio of 1.96. International Money Express has a 52 week low of $5.84 and a 52 week high of $15.95. The company has a market cap of $190.08 million, a PE ratio of 10.66 and a beta of 0.83. The company has a 50-day simple moving average of $10.68 and a 200 day simple moving average of $13.83.

Hedge Funds Weigh In On International Money Express

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC lifted its stake in International Money Express by 427.4% in the third quarter. Signaturefd LLC now owns 2,347 shares of the company’s stock valued at $27,000 after acquiring an additional 1,902 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of International Money Express during the 2nd quarter worth about $40,000. Parallel Advisors LLC increased its stake in shares of International Money Express by 72.3% during the 3rd quarter. Parallel Advisors LLC now owns 5,311 shares of the company’s stock worth $62,000 after purchasing an additional 2,229 shares during the last quarter. Longfellow Investment Management Co. LLC acquired a new position in shares of International Money Express during the 2nd quarter worth about $70,000. Finally, State of Alaska Department of Revenue raised its holdings in shares of International Money Express by 14.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 10,361 shares of the company’s stock valued at $119,000 after purchasing an additional 1,313 shares during the period. 86.71% of the stock is owned by institutional investors.

International Money Express Company Profile

International Money Express, Inc., known as Intermex, provides money-transfer services for individuals sending funds across international borders. The company connects customers with recipients through a network of retail agent locations and digital channels. Intermex primarily serves transfers from the United States and other markets to countries in Latin America and the Caribbean. Depending on the destination, recipients can collect funds in cash or receive them through options such as a bank deposit or mobile wallet.