Polar Asset Management Partners Inc. Purchases New Shares in International Money Express, Inc. $IMXI

Polar Asset Management Partners Inc. purchased a new position in International Money Express, Inc. (NASDAQ:IMXI) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 704,613 shares of the company’s stock, valued at approximately $10,182,000. Polar Asset Management Partners Inc. owned approximately 2.33% of International Money Express at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Creative Planning purchased a new stake in shares of International Money Express in the 2nd quarter valued at approximately $272,000. Norges Bank acquired a new stake in International Money Express during the 2nd quarter valued at $1,124,000. Quantbot Technologies LP lifted its holdings in shares of International Money Express by 35.5% in the second quarter. Quantbot Technologies LP now owns 32,423 shares of the company’s stock valued at $327,000 after purchasing an additional 8,487 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of International Money Express by 2.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 287,744 shares of the company’s stock valued at $2,903,000 after purchasing an additional 7,256 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of International Money Express by 2.1% in the second quarter. First Trust Advisors LP now owns 93,410 shares of the company’s stock worth $943,000 after buying an additional 1,881 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IMXI. Weiss Ratings upgraded International Money Express from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday. 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. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

International Money Express Trading Down 0.8%

Shares of NASDAQ IMXI opened at $14.08 on Wednesday. The business has a 50 day simple moving average of $13.57 and a 200 day simple moving average of $14.88. International Money Express, Inc. has a 52 week low of $11.15 and a 52 week high of $15.95. The stock has a market cap of $425.36 million, a price-to-earnings ratio of 22.71 and a beta of 0.76. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.96 and a current ratio of 1.96.

International Money Express Company Profile

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.