Russell Investments Group Ltd. increased its position in International Money Express, Inc. (NASDAQ: IMXI – Get Rating) by 42.6% during the first quarter, according to its most recent Form 13F filed with the Securities and Exchange Commission (SEC). The fund held 174,986 shares of the company after acquiring an additional 52,315 shares during the period. Russell Investments Group Ltd. owned 0.46% of International Money Express worth $3,604,000 when it was last filed with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently increased or reduced their stake in the stock. Covestor Ltd purchased a new stake in International Money Express in the fourth quarter worth $43,000. Byrne Asset Management LLC bought a new stake in International Money Express in the fourth quarter worth $56,000. Counterpoint Mutual Funds LLC increased its position in International Money Express by 86.9% in the first quarter. Counterpoint Mutual Funds LLC now owns 3,132 shares of the company valued at $65,000 after purchasing an additional 1,456 shares during the period. Foyston Gordon & Payne Inc acquired a new stake in International Money Express in the fourth quarter worth $193,000. Finally, M&T Bank Corp increased its position in International Money Express by 5.8% in the fourth quarter. M&T Bank Corp now owns 13,932 shares of the company valued at $222,000 after purchasing an additional 760 shares during the period. Hedge funds and other institutional investors hold 82.49% of the company’s shares.

A Wall Street analyst gives his opinion

Several equity research analysts have recently released reports on the company. BTIG Research raised its price target on International Money Express to $29.00 in a report on Tuesday. Northland Securities raised its price target on International Money Express from $26.00 to $28.00 in a Thursday, August 4 report.

International Money Express Trading up 0.9%

NASDAQ: IMXI opened at $24.53 on Friday. The stock has a 50-day simple moving average of $21.96 and a 200-day simple moving average of $19.93. The stock has a market capitalization of $943.01 million, a P/E ratio of 18.44 and a beta of 0.61. International Money Express, Inc. has a 1 year minimum of $14.66 and a 1 year maximum of $26.11. The company has a debt ratio of 0.50, a quick ratio of 2.33 and a current ratio of 2.35.

Insider Trading at International Money Express

Separately, director John Rincon sold 50,000 shares of the company in a transaction dated Monday, June 6. The stock was sold at an average price of $20.57, for a total transaction of $1,028,500.00. Following completion of the transaction, the administrator now directly owns 130,431 shares of the company, valued at approximately $2,682,965.67. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, director John Rincon sold 50,000 shares of the company in a trade dated Monday, June 6. The stock was sold at an average price of $20.57, for a total value of $1,028,500.00. Following the completion of the sale, the director now directly owns 130,431 shares of the company, valued at approximately $2,682,965.67. The sale was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Additionally, director Adam P. Godfrey sold 150,000 shares of the company in a trade dated Wednesday, August 10. The shares were sold at an average price of $25.33, for a total value of $3,799,500.00. Following the completion of the sale, the director now directly owns 1,869,591 shares of the company, valued at $47,356,740.03. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 382,500 shares of the company valued at $8,891,496. 15.30% of the shares are currently held by company insiders.

About International Money Express

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International Money Express, Inc, through its subsidiary, operates as a money transfer services company in the United States, Latin America, Mexico, Africa, Central and South America and the Caribbean . The Company offers remittance services, which include a suite of ancillary financial processing solutions and payment services; and online payment options, prepaid debit cards and direct deposit payroll cards.

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