IMAX (NYSE:IMAX) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of IMAX (NYSE:IMAX) from a buy rating to a hold rating in a report issued on Tuesday.

Other equities analysts have also issued reports about the stock. Roth Mkm increased their price objective on shares of IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on IMAX from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $28.00 price target on shares of IMAX in a research note on Thursday, January 16th. Benchmark reissued a “buy” rating and set a $30.00 price target on shares of IMAX in a research report on Friday, January 17th. Finally, Barrington Research restated an “outperform” rating and issued a $30.00 price objective on shares of IMAX in a research report on Friday, January 10th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, IMAX presently has an average rating of “Moderate Buy” and a consensus price target of $28.63.

IMAX Price Performance

IMAX opened at $25.26 on Tuesday. The stock has a market capitalization of $1.33 billion, a P/E ratio of 57.41, a price-to-earnings-growth ratio of 1.30 and a beta of 1.22. The company’s 50 day simple moving average is $24.57 and its 200-day simple moving average is $22.49. IMAX has a one year low of $13.31 and a one year high of $26.84.

Insider Buying and Selling at IMAX

In related news, insider Kenneth Ian Weissman sold 6,309 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.51, for a total transaction of $160,942.59. Following the transaction, the insider now directly owns 25,139 shares of the company’s stock, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Natasha Fernandes sold 2,957 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.52, for a total value of $75,462.64. Following the sale, the chief financial officer now directly owns 14,883 shares of the company’s stock, valued at $379,814.16. This represents a 16.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,176 shares of company stock worth $1,662,110 over the last quarter. 24.08% of the stock is currently owned by insiders.

Institutional Trading of IMAX

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of IMAX by 108.4% during the third quarter. FMR LLC now owns 3,949,643 shares of the company’s stock worth $81,007,000 after purchasing an additional 2,054,031 shares during the period. Royce & Associates LP raised its holdings in IMAX by 3.1% in the 3rd quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock valued at $37,382,000 after acquiring an additional 54,850 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of IMAX by 9.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company’s stock valued at $29,136,000 after acquiring an additional 127,371 shares during the period. Mizuho Markets Americas LLC grew its holdings in shares of IMAX by 47.5% during the 3rd quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock worth $7,952,000 after purchasing an additional 124,811 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of IMAX in the fourth quarter worth $9,143,000. 93.51% of the stock is owned by institutional investors and hedge funds.

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.