International Money Express (NASDAQ:IMXI) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of International Money Express (NASDAQ:IMXI) from a buy rating to a hold rating in a research report released on Friday, Zacks.com reports.

According to Zacks, “International Money Express Inc. offer wire transfer and other processing services to customers through network of sending and paying 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 brokerages also recently commented on IMXI. ValuEngine downgraded International Money Express from a hold rating to a sell rating in a research report on Wednesday, October 2nd. Northland Securities set a $17.00 price objective on International Money Express and gave the company a buy rating in a research report on Wednesday, September 4th. Finally, BTIG Research reaffirmed a buy rating and issued a $20.00 price objective on shares of International Money Express in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $16.50.

Shares of International Money Express stock opened at $14.57 on Friday. The stock’s fifty day moving average is $13.79 and its two-hundred day moving average is $13.47. The company has a market capitalization of $554.55 million, a PE ratio of -291.40 and a beta of -0.23. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.81. International Money Express has a 52 week low of $10.31 and a 52 week high of $15.11.

International Money Express (NASDAQ:IMXI) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.11. The company had revenue of $82.68 million for the quarter, compared to the consensus estimate of $81.60 million. International Money Express had a return on equity of 24.08% and a net margin of 0.56%. As a group, research analysts anticipate that International Money Express will post 0.76 earnings per share for the current year.

In other news, insider Solomon Cohen sold 16,508 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $12.75, for a total transaction of $210,477.00. Also, major shareholder William Velez sold 8,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $11.96, for a total value of $95,680.00. Insiders have sold a total of 124,508 shares of company stock worth $1,502,157 in the last three months. Corporate insiders own 43.10% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of International Money Express by 2,942.0% during the 2nd quarter. BlackRock Inc. now owns 991,155 shares of the company’s stock worth $13,975,000 after buying an additional 958,573 shares in the last quarter. Vanguard Group Inc. grew its position in shares of International Money Express by 61.7% during the 2nd quarter. Vanguard Group Inc. now owns 783,604 shares of the company’s stock worth $11,049,000 after buying an additional 298,987 shares in the last quarter. Northern Right Capital Management L.P. bought a new position in shares of International Money Express during the 2nd quarter worth $3,373,000. ETF Managers Group LLC bought a new position in shares of International Money Express during the 2nd quarter worth $2,295,000. Finally, Calamos Advisors LLC purchased a new stake in shares of International Money Express during the 3rd quarter worth $1,765,000. 37.40% of the stock is currently owned by institutional investors and hedge funds.

International Money Express Company Profile

International Money Express, Inc, through its subsidiary, operates as a money remittance services company in the United States, Latin America, Mexico, Central and South America, and the Caribbean. The company offers remittance services, including a suite of ancillary financial processing solutions and payment services.

Featured Story: What is a blue-chip stock?

Get a free copy of the Zacks research report on International Money Express (IMXI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for International Money Express (NASDAQ:IMXI)

Receive News & Ratings for International Money Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Money Express and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit