International Money Express, Inc. (NASDAQ:IMXI) Short Interest Up 38.1% in February

International Money Express, Inc. (NASDAQ:IMXI) was the target of a large increase in short interest in February. As of February 27th, there was short interest totaling 1,139,411 shares, an increase of 38.1% from the February 12th total of 824,813 shares. Currently, 4.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 427,786 shares, the days-to-cover ratio is currently 2.7 days. Based on an average daily trading volume, of 427,786 shares, the days-to-cover ratio is currently 2.7 days. Currently, 4.0% of the shares of the stock are sold short.

International Money Express Price Performance

Shares of NASDAQ IMXI traded up $0.02 during mid-day trading on Friday, hitting $15.80. 506,221 shares of the stock were exchanged, compared to its average volume of 469,946. The company has a market cap of $476.21 million, a P/E ratio of 14.63 and a beta of 0.86. The stock’s fifty day simple moving average is $15.59 and its two-hundred day simple moving average is $15.12. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.03 and a current ratio of 2.51. International Money Express has a twelve month low of $8.58 and a twelve month high of $15.81.

International Money Express (NASDAQ:IMXI) last announced its earnings results on Friday, March 6th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.12). International Money Express had a return on equity of 29.00% and a net margin of 5.38%.The business had revenue of $147.41 million during the quarter, compared to analyst estimates of $162.95 million. As a group, analysts forecast that International Money Express will post 1.97 EPS for the current fiscal year.

Institutional Trading of International Money Express

Hedge funds and other institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. lifted its holdings in International Money Express by 6,041.0% during the 3rd quarter. Alliancebernstein L.P. now owns 2,060,904 shares of the company’s stock worth $28,791,000 after buying an additional 2,027,344 shares in the last quarter. Magnetar Financial LLC raised its position in shares of International Money Express by 3,580.7% during the third quarter. Magnetar Financial LLC now owns 1,871,975 shares of the company’s stock worth $26,151,000 after acquiring an additional 1,821,116 shares during the last quarter. Fort Baker Capital Management LP acquired a new position in shares of International Money Express during the fourth quarter valued at $14,616,000. Man Group plc lifted its stake in shares of International Money Express by 103.4% during the fourth quarter. Man Group plc now owns 1,153,023 shares of the company’s stock valued at $17,710,000 after acquiring an additional 586,044 shares during the period. Finally, Forager Capital Management LLC boosted its holdings in International Money Express by 30.5% in the second quarter. Forager Capital Management LLC now owns 1,946,174 shares of the company’s stock valued at $19,637,000 after acquiring an additional 455,000 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded International Money Express from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.33.

About International Money Express

International Money Express, Inc (NASDAQ: IMXI) is a U.S.-based financial services company specializing in cross-border money transfers and digital payment solutions. Through its proprietary IMX platform, the company enables person-to-person transfers, bill payments and cash disbursement services. Its digital offerings include a mobile app and web portal that allow customers to send funds securely to relatives and businesses in multiple countries.

The company operates a network of thousands of agent locations across key remittance corridors in Latin America, the Caribbean and parts of the Asia-Pacific region.