IMAX’s (IMAX) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of IMAX (NYSE:IMAX) in a report published on Thursday morning,RTT News reports. The brokerage currently has a $32.00 price objective on the stock.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company boosted their price objective on shares of IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. upped their target price on shares of IMAX from $21.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Roth Mkm upped their target price on shares of IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Benchmark reiterated a “buy” rating and set a $30.00 price objective on shares of IMAX in a report on Thursday. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.44.

IMAX Stock Down 1.2 %

IMAX stock opened at $26.90 on Thursday. IMAX has a 52 week low of $14.94 and a 52 week high of $27.38. The firm’s 50-day simple moving average is $24.65 and its 200 day simple moving average is $22.96. The firm has a market capitalization of $1.42 billion, a PE ratio of 54.90, a P/E/G ratio of 1.50 and a beta of 1.22.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.14). IMAX had a return on equity of 8.79% and a net margin of 7.40%. The business had revenue of $92.67 million during the quarter, compared to analysts’ expectations of $104.08 million. On average, research analysts expect that IMAX will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling at IMAX

In related news, CFO Natasha Fernandes sold 2,957 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the transaction, the chief financial officer now directly owns 14,883 shares in the company, valued at $379,814.16. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert D. Lister sold 55,910 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.50, for a total value of $1,425,705.00. Following the transaction, the executive vice president now owns 138,889 shares in the company, valued at $3,541,669.50. This trade represents a 28.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,176 shares of company stock valued at $1,662,110 over the last 90 days. 24.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IMAX

Several large investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in IMAX by 87.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 147,978 shares of the company’s stock worth $3,788,000 after purchasing an additional 68,957 shares during the last quarter. Squarepoint Ops LLC bought a new stake in IMAX in the fourth quarter valued at $999,000. Two Sigma Investments LP bought a new stake in IMAX in the fourth quarter valued at $2,411,000. State of Wyoming lifted its stake in IMAX by 184.6% in the fourth quarter. State of Wyoming now owns 21,606 shares of the company’s stock valued at $553,000 after buying an additional 14,014 shares during the last quarter. Finally, Polar Asset Management Partners Inc. lifted its stake in IMAX by 191.6% in the fourth quarter. Polar Asset Management Partners Inc. now owns 204,536 shares of the company’s stock valued at $5,236,000 after buying an additional 134,389 shares during the last quarter. 93.51% of the stock is currently owned by institutional investors.

IMAX Company Profile

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.