Equities researchers at Piper Jaffray Companies started coverage on shares of International Money Express (NASDAQ:IMXI) in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage set an “overweight” rating on the stock.

A number of other brokerages have also weighed in on IMXI. Zacks Investment Research raised shares of International Money Express from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Wednesday, November 14th. Cantor Fitzgerald began coverage on shares of International Money Express in a report on Thursday, October 11th. They issued an “overweight” rating for the company. Finally, 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 price target for the company. Five investment analysts have rated the stock with a buy rating, International Money Express has an average rating of “Buy” and an average target price of $15.00.

Shares of International Money Express stock opened at $11.67 on Thursday. The company has a debt-to-equity ratio of 2.75, a current ratio of 1.56 and a quick ratio of 1.56. International Money Express has a fifty-two week low of $9.06 and a fifty-two week high of $13.38.

Several institutional investors have recently modified their holdings of IMXI. Granite Point Capital Management L.P. acquired a new stake in shares of International Money Express in the third quarter valued at approximately $4,808,000. Monashee Investment Management LLC acquired a new stake in shares of International Money Express in the third quarter valued at approximately $2,039,000. Renaissance Technologies LLC acquired a new stake in shares of International Money Express in the third quarter valued at approximately $316,000. King Luther Capital Management Corp acquired a new stake in shares of International Money Express in the third quarter valued at approximately $301,000. Finally, Vanguard Group Inc. acquired a new stake in shares of International Money Express in the third quarter valued at approximately $923,000. 25.17% of the stock is owned by institutional investors and hedge funds.

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.

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