International Money Express (NASDAQ:IMXI) Lowered to “Hold” at Zacks Investment Research

International Money Express (NASDAQ:IMXI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday, 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. “

Other research analysts have also recently issued research reports about the stock. BTIG Research reiterated a “buy” rating and set a $20.00 price target on shares of International Money Express in a report on Monday, August 12th. ValuEngine upgraded shares of International Money Express from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Northland Securities reiterated a “buy” rating and set a $17.00 price target on shares of International Money Express in a report on Tuesday, November 12th. Cantor Fitzgerald boosted their price target on shares of International Money Express from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Finally, KeyCorp began coverage on shares of International Money Express in a report on Friday, October 18th. They set a “sector weight” rating for the company. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. International Money Express currently has an average rating of “Buy” and an average price target of $17.50.

NASDAQ IMXI traded up $0.15 on Friday, hitting $13.67. 5,740 shares of the stock were exchanged, compared to its average volume of 190,978. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.80. International Money Express has a fifty-two week low of $10.31 and a fifty-two week high of $16.10. The company has a market cap of $500.56 million, a PE ratio of -275.20 and a beta of -0.20. The company has a 50-day moving average price of $14.27 and a 200-day moving average price of $13.85.

In other news, Director John Rincon sold 100,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $11.96, for a total value of $1,196,000.00. Also, major shareholder William Velez sold 8,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $11.96, for a total transaction of $95,680.00. Insiders have sold a total of 124,508 shares of company stock valued at $1,502,157 in the last quarter. 43.10% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Huntington National Bank acquired a new position in shares of International Money Express in the 3rd quarter valued at $27,000. Russell Investments Group Ltd. boosted its holdings in shares of International Money Express by 245.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 60,856 shares of the company’s stock valued at $837,000 after buying an additional 43,256 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in shares of International Money Express in the 3rd quarter valued at $1,517,000. Tocqueville Asset Management L.P. acquired a new position in shares of International Money Express in the 3rd quarter valued at $824,000. Finally, Pembroke Management LTD acquired a new position in shares of International Money Express in the 3rd quarter valued at $6,721,000. Institutional investors and hedge funds own 42.40% of the company’s stock.

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.

Further Reading: Outstanding Shares and The Effect on Share Price

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