Needham & Company LLC Reaffirms “Buy” Rating for International Money Express (NASDAQ:IMXI)

International Money Express (NASDAQ:IMXI)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued on Thursday, Benzinga reports. They presently have a $25.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 24.88% from the company’s current price.

Several other equities analysts have also issued reports on the company. BMO Capital Markets decreased their price objective on International Money Express from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Monness Crespi & Hardt began coverage on shares of International Money Express in a report on Wednesday, March 20th. They issued a “buy” rating and a $27.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.80.

International Money Express Price Performance

International Money Express stock opened at $20.02 on Thursday. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $675.27 million, a P/E ratio of 12.28 and a beta of 0.76. The business has a 50-day moving average of $21.27 and a 200-day moving average of $20.75. International Money Express has a 1 year low of $15.76 and a 1 year high of $26.25.

International Money Express (NASDAQ:IMXI) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $171.78 million during the quarter, compared to analyst estimates of $175.55 million. International Money Express had a net margin of 9.03% and a return on equity of 42.30%. On average, equities analysts anticipate that International Money Express will post 2.05 EPS for the current year.

Insiders Place Their Bets

In other news, insider Joseph Aguilar sold 23,700 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $21.13, for a total transaction of $500,781.00. Following the completion of the transaction, the insider now directly owns 105,677 shares in the company, valued at approximately $2,232,955.01. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On International Money Express

A number of institutional investors have recently added to or reduced their stakes in IMXI. SG Americas Securities LLC grew its holdings in International Money Express by 8.1% during the fourth quarter. SG Americas Securities LLC now owns 8,321 shares of the company’s stock worth $184,000 after purchasing an additional 625 shares during the period. SkyView Investment Advisors LLC boosted its stake in shares of International Money Express by 5.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 15,265 shares of the company’s stock worth $258,000 after acquiring an additional 836 shares during the period. Summit Creek Advisors LLC increased its holdings in shares of International Money Express by 0.4% during the 3rd quarter. Summit Creek Advisors LLC now owns 351,784 shares of the company’s stock worth $5,956,000 after acquiring an additional 1,357 shares during the last quarter. Barclays PLC raised its stake in International Money Express by 12.4% in the 3rd quarter. Barclays PLC now owns 13,551 shares of the company’s stock valued at $229,000 after acquiring an additional 1,493 shares during the period. Finally, International Assets Investment Management LLC bought a new position in International Money Express during the fourth quarter worth $38,000. 86.71% of the stock is currently owned by institutional investors and hedge funds.

About International Money Express

International Money Express, Inc, together with its subsidiaries, operates as an omnichannel money remittance services company in the United States, Latin America, Mexico, Central and South America, the Caribbean, Africa, and Asia. The company offers remittance services, which include a suite of ancillary financial processing solutions and payment services; and online payment options, pre-paid debit cards, and direct deposit payroll cards.