IMAX (NYSE:IMAX) Receives “Outperform” Rating from Wedbush

Wedbush reiterated their outperform rating on shares of IMAX (NYSE:IMAX) in a research report released on Friday, Benzinga reports. Wedbush currently has a $22.00 price target on the stock.

Several other research analysts have also recently weighed in on IMAX. Barrington Research restated an outperform rating and issued a $24.00 price objective on shares of IMAX in a research report on Monday, April 22nd. StockNews.com cut shares of IMAX from a buy rating to a hold rating in a research report on Saturday, January 27th. The Goldman Sachs Group cut their target price on shares of IMAX from $15.00 to $13.00 and set a sell rating for the company in a research report on Thursday, January 11th. JPMorgan Chase & Co. dropped their price target on IMAX from $20.00 to $17.00 and set a neutral rating for the company in a research note on Tuesday, February 6th. Finally, B. Riley reduced their price objective on IMAX from $27.00 to $21.00 and set a buy rating on the stock in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, IMAX currently has a consensus rating of Moderate Buy and a consensus target price of $20.57.

IMAX Price Performance

NYSE IMAX opened at $17.14 on Friday. The company’s 50 day simple moving average is $16.37 and its two-hundred day simple moving average is $16.10. The stock has a market capitalization of $907.56 million, a PE ratio of 35.71, a P/E/G ratio of 1.53 and a beta of 1.25. IMAX has a 1 year low of $13.20 and a 1 year high of $21.82.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.05. The company had revenue of $79.12 million during the quarter, compared to analyst estimates of $77.88 million. IMAX had a return on equity of 9.37% and a net margin of 7.13%. On average, research analysts anticipate that IMAX will post 0.57 EPS for the current year.

Insider Transactions at IMAX

In related news, VP Robert D. Lister sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $16.87, for a total transaction of $421,750.00. Following the transaction, the vice president now directly owns 138,889 shares in the company, valued at approximately $2,343,057.43. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 24.33% of the company’s stock.

Institutional Investors Weigh In On IMAX

Institutional investors have recently added to or reduced their stakes in the company. Equitable Trust Co. raised its stake in shares of IMAX by 12.3% during the first quarter. Equitable Trust Co. now owns 40,710 shares of the company’s stock valued at $658,000 after acquiring an additional 4,455 shares during the last quarter. Hedges Asset Management LLC bought a new position in IMAX during the 1st quarter valued at approximately $1,344,000. Assenagon Asset Management S.A. purchased a new stake in IMAX in the 1st quarter worth approximately $222,000. Private Capital Management LLC grew its position in shares of IMAX by 54.3% in the 4th quarter. Private Capital Management LLC now owns 1,185,715 shares of the company’s stock worth $17,809,000 after buying an additional 417,169 shares during the last quarter. Finally, Partnership Wealth Management LLC increased its stake in shares of IMAX by 63.1% during the first quarter. Partnership Wealth Management LLC now owns 12,932 shares of the company’s stock valued at $209,000 after buying an additional 5,005 shares during the period. Hedge funds and other institutional investors own 93.51% of the company’s stock.

About IMAX

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.