Zacks Investment Research Downgrades International Money Express (IMXI) to Hold

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

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. “

IMXI has been the subject of several other research reports. BTIG Research began coverage on shares of International Money Express in a report on Wednesday, September 12th. They issued a “buy” rating and a $16.00 target price for the company. JMP Securities began coverage on shares of International Money Express in a report on Monday, July 30th. They issued an “outperform” rating for the company.

International Money Express stock opened at $12.46 on Thursday. International Money Express has a 12-month low of $9.06 and a 12-month high of $13.20.

International Money Express Company Profile

International Money Express, Inc operates as a processor of money transfer services. The company offers wire transfer, money order, and cash checking services. It uses a proprietary financial technology that enables consumers to send money from the United States to 17 countries in Latin America and the Caribbean, including Mexico and Guatemala.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

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