International Money Express (NASDAQ:IMXI) Shares Gap Up to $19.59

International Money Express, Inc. (NASDAQ:IMXI) gapped up prior to trading on Wednesday . The stock had previously closed at $19.59, but opened at $20.53. International Money Express shares last traded at $20.03, with a volume of 107,326 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have commented on IMXI shares. Monness Crespi & Hardt initiated coverage on International Money Express in a report on Wednesday, March 20th. They set a “buy” rating and a $27.00 target price on the stock. BMO Capital Markets decreased their target price on shares of 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. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, International Money Express presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

International Money Express Stock Up 2.3 %

The firm has a market cap of $675.95 million, a price-to-earnings ratio of 12.32 and a beta of 0.76. The firm has a 50 day moving average of $21.26 and a 200 day moving average of $20.76. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 1.37.

International Money Express (NASDAQ:IMXI) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.52 earnings per share 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%. As a group, sell-side analysts predict that International Money Express, Inc. will post 2.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Joseph Aguilar sold 23,700 shares of International Money Express stock in a transaction on Friday, March 15th. The shares were sold at an average price of $21.13, for a total value of $500,781.00. Following the completion of the sale, the insider now owns 105,677 shares of the company’s stock, valued at approximately $2,232,955.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 10.50% of the company’s stock.

Institutional Trading of International Money Express

Several institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new stake in International Money Express in the 4th quarter valued at $38,000. New York State Teachers Retirement System purchased a new stake in shares of International Money Express in the fourth quarter valued at about $65,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of International Money Express in the fourth quarter valued at about $95,000. SG Americas Securities LLC bought a new position in shares of International Money Express during the third quarter valued at about $130,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in International Money Express by 39.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,071 shares of the company’s stock worth $154,000 after purchasing an additional 2,585 shares during the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

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.