International Money Express (NASDAQ:IMXI) Stock Sees Heavy Put Option Buying

International Money Express, Inc. (NASDAQ:IMXI) was the target of some unusual options trading on Wednesday. Stock traders purchased 2,194 put options on the company. This represents an increase of approximately 98% compared to the typical volume of 1,110 put options.

International Money Express Stock Performance

Shares of International Money Express stock opened at $6.89 on Thursday. The business’s fifty day simple moving average is $11.00 and its 200 day simple moving average is $13.92. The firm has a market capitalization of $208.16 million, a P/E ratio of 11.68 and a beta of 0.83. International Money Express has a 12 month low of $5.93 and a 12 month high of $15.95. The company has a current ratio of 2.53, a quick ratio of 1.96 and a debt-to-equity ratio of 1.06.

Institutional Investors Weigh In On International Money Express

Hedge funds have recently made changes to their positions in the business. Signaturefd LLC grew its position in International Money Express by 427.4% during the third quarter. Signaturefd LLC now owns 2,347 shares of the company’s stock valued at $27,000 after buying an additional 1,902 shares during the period. Legal & General Group Plc purchased a new stake in International Money Express during the second quarter worth about $40,000. Longfellow Investment Management Co. LLC purchased a new stake in International Money Express during the second quarter worth about $70,000. Parallel Advisors LLC raised its position in International Money Express by 72.3% in the third quarter. Parallel Advisors LLC now owns 5,311 shares of the company’s stock worth $62,000 after acquiring an additional 2,229 shares during the period. Finally, State of Alaska Department of Revenue raised its position in International Money Express by 14.5% in the third quarter. State of Alaska Department of Revenue now owns 10,361 shares of the company’s stock worth $119,000 after acquiring an additional 1,313 shares during the period. 86.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on IMXI shares. Weiss Ratings lowered International Money Express from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, October 6th. Wall Street Zen upgraded International Money Express from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, International Money Express has an average rating of “Sell”.

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.