Should You Hold International Money Express (IMXI)?

Investment management company Ave Maria recently released its “Ave Maria World Equity Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund returned -4.88% compared to the MSCI All Country World Index’s -3.40% return. Year-to-date the fund returned 9.62% compared to the 10.06% return for the index. You can check the top 5 holdings of the fund to know its best picks in 2023.

Ave Maria World Equity Fund highlighted stocks like International Money Express, Inc. (NASDAQ:IMXI) in the Q3 2023 investor letter. Headquartered in Miami, Florida, International Money Express, Inc. (NASDAQ:IMXI) provides money remittance services. On December 13, 2023, International Money Express, Inc. (NASDAQ:IMXI) stock closed at $21.24 per share. One-month return of International Money Express, Inc. (NASDAQ:IMXI) was 2.46%, and its shares lost 1.26% of their value over the last 52 weeks. International Money Express, Inc. (NASDAQ:IMXI) has a market capitalization of $740.575 million.

Ave Maria World Equity Fund made the following comment about International Money Express, Inc. (NASDAQ:IMXI) in its Q3 2023 investor letter:

“Money Express, Inc. (NASDAQ:IMXI) is a remittance company focused on outbound transfer to Latin America. The company has a unique distribution strategy, which has led to high returns on capital and ongoing market share gains in an attractive industry.”

A customer receiving a mobile money transfer notification on their phone.

International Money Express, Inc. (NASDAQ:IMXI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held International Money Express, Inc. (NASDAQ:IMXI) at the end of third quarter which was 24 in the previous quarter.

We discussed International Money Express, Inc. (NASDAQ:IMXI) in another article and shared the list of oversold small cap stocks to buy. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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 Disclosure: None. This article is originally published at Insider Monkey.