International Money Express (NASDAQ:IMXI) Posts Quarterly Earnings Results, Misses Expectations By $0.22 EPS

International Money Express (NASDAQ:IMXI) announced its earnings results on Monday. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.22), Zacks reports. International Money Express had a net margin of 8.01% and a return on equity of 42.08%.

International Money Express Stock Up 0.2%

Shares of IMXI traded up $0.03 on Monday, hitting $15.17. The company’s stock had a trading volume of 164,151 shares, compared to its average volume of 427,898. The firm’s fifty day moving average price is $14.57 and its 200-day moving average price is $12.42. International Money Express has a fifty-two week low of $8.58 and a fifty-two week high of $22.37. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $450.85 million, a price-to-earnings ratio of 9.25 and a beta of 0.91.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings raised shares of International Money Express from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Zacks Research upgraded International Money Express from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Wall Street Zen raised International Money Express from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Finally, Northland Capmk lowered International Money Express from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 11th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, International Money Express has a consensus rating of “Hold” and a consensus target price of $17.50.

Hedge Funds Weigh In On International Money Express

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd increased its holdings in International Money Express by 1,007.0% in the second quarter. Qube Research & Technologies Ltd now owns 206,203 shares of the company’s stock worth $2,081,000 after purchasing an additional 187,576 shares in the last quarter. Jane Street Group LLC increased its stake in International Money Express by 280.6% in the second quarter. Jane Street Group LLC now owns 187,095 shares of the company’s stock valued at $1,888,000 after purchasing an additional 137,938 shares in the last quarter. Norges Bank acquired a new position in shares of International Money Express during the second quarter valued at about $1,124,000. Marshall Wace LLP grew its stake in shares of International Money Express by 50.3% in the 2nd quarter. Marshall Wace LLP now owns 318,672 shares of the company’s stock valued at $3,215,000 after buying an additional 106,585 shares during the period. Finally, Jump Financial LLC bought a new position in International Money Express in the 2nd quarter valued at $863,000. 86.71% of the stock is 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.