UBS Group Has Lowered Expectations for International Money Express (NASDAQ:IMXI) Stock Price

International Money Express (NASDAQ:IMXI) had its target price reduced by stock analysts at UBS Group from $16.00 to $7.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group‘s price target would suggest a potential upside of 6.25% from the company’s current price.

A number of other equities analysts have also commented on IMXI. Weiss Ratings lowered shares of International Money Express from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, October 6th. Wall Street Zen raised shares of International Money Express from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $7.00.

International Money Express Stock Down 4.4%

Shares of IMXI stock traded down $0.30 on Thursday, hitting $6.59. The stock had a trading volume of 494,651 shares, compared to its average volume of 543,393. The stock’s 50 day moving average is $11.00 and its 200-day moving average is $13.92. The firm has a market capitalization of $199.04 million, a price-to-earnings ratio of 11.24 and a beta of 0.83. International Money Express has a 52-week low of $5.93 and a 52-week high of $15.95. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.96 and a current ratio of 2.53.

Institutional Investors Weigh In On International Money Express

Several hedge funds and other institutional investors have recently bought and sold shares of IMXI. BlackRock Inc. acquired a new position in shares of International Money Express in the 2nd quarter valued at approximately $33,315,000. Man Group plc acquired a new stake in shares of International Money Express during the second quarter worth approximately $18,097,000. Hsbc Holdings PLC acquired a new stake in shares of International Money Express during the second quarter worth approximately $11,487,000. Alberta Investment Management Corp bought a new stake in shares of International Money Express in the second quarter worth $11,173,000. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of International Money Express in the second quarter worth $10,182,000. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

About International Money Express

International Money Express, Inc., known as Intermex, provides money-transfer services for individuals sending funds across international borders. The company connects customers with recipients through a network of retail agent locations and digital channels. Intermex primarily serves transfers from the United States and other markets to countries in Latin America and the Caribbean. Depending on the destination, recipients can collect funds in cash or receive them through options such as a bank deposit or mobile wallet.