International Money Express (NASDAQ:IMXI – Get an assessment) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report on Tuesday, reports Zacks.com.
According to Zacks, “International Money Express Inc. provides wire transfer and other processing services to customers through a network of shipping and payment agents located primarily in the District of Columbia and Puerto Rico, as well as throughout Latin America. International Money Express Inc., formerly known as FinTech Acquisition Corp. II, is headquartered in Miami, Florida.”
Several other research analysts have also recently published reports on IMXI. Credit Suisse Group raised its price target on shares of International Money Express from $19.00 to $20.50 and gave the stock a “neutral” rating in a Tuesday, March 8 report. BTIG Research raised its price target on shares of International Money Express from $22.00 to $25.00 in a Wednesday, March 16 report. Finally, JMP Securities raised its price target on shares of International Money Express from $20.00 to $24.00 and gave the stock a “market outperformance” rating in a Tuesday, March 8 report. . One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned the company’s stock a buy rating. Based on data from MarketBeat.com, International Money Express currently has a consensus rating of “Hold” and a consensus price target of $22.70.
NASDAQ: IMXI opened at $19.91 on Tuesday. International Money Express has a 12 month minimum of $13.55 and a 12 month maximum of $22.86. The company’s fifty-day moving average is $19.97. The company has a quick ratio of 2.26, a current ratio of 2.33 and a debt ratio of 0.54. The company has a market capitalization of $762.91 million, a P/E ratio of 15.80 and a beta of 0.57.
International Money Express (NASDAQ:IMXI – Get Rating) last released quarterly earnings data on Monday, March 7. The company reported EPS of $0.38 for the quarter. International Money Express posted a net margin of 10.33% and a return on equity of 41.13%. The company posted revenue of $127.18 million in the quarter, versus a consensus estimate of $120.50 million. During the same period a year earlier, the company posted earnings per share of $0.27. As a group, research analysts expect International Money Express to post earnings per share of 1.55 for the current fiscal year.
In other International Money Express news, CEO Robert Lisy sold 150,000 shares of International Money Express in a trade Thursday, March 10. The shares were sold at an average price of $17.74, for a total value of $2,661,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.00% of the shares are currently held by insiders.
A number of institutional investors have recently changed their holdings in IMXI. Counterpoint Mutual Funds LLC bought a new position in shares of International Money Express in the fourth quarter worth approximately $27,000. Covestor Ltd bought a new position in shares of International Money Express in the fourth quarter valued at around $43,000. Financial Management Professionals Inc. increased its position in shares of International Money Express by 121.0% in the fourth quarter. Financial Management Professionals Inc. now owns 3,143 shares of the company valued at $50,000 after acquiring 1,721 additional shares in the last quarter. Byrne Asset Management LLC bought a new position in shares of International Money Express in the fourth quarter worth approximately $56,000. Finally, Citigroup Inc. raised its position in shares of International Money Express by 53.9% in the third quarter. Citigroup Inc. now owns 4,128 shares of the company valued at $69,000 after acquiring 1,445 additional shares in the last quarter. 82.49% of the shares are currently held by hedge funds and other institutional investors.
About International Money Express (Get a rating)
International Money Express, Inc, through its subsidiary, operates as a money transfer services company in the United States, Latin America, Mexico, Africa, Central and South America and the Caribbean . The Company offers remittance services, which include a suite of ancillary financial processing solutions and payment services; and online payment options, prepaid debit cards and direct deposit payroll cards.
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