IMAX (NYSE:IMAX) Stock Rating Reaffirmed by Benchmark

IMAX (NYSE:IMAX)‘s stock had its “buy” rating restated by investment analysts at Benchmark in a research note issued to investors on Thursday, Benzinga reports. They currently have a $22.00 price objective on the stock. Benchmark’s target price indicates a potential upside of 30.49% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Barrington Research reaffirmed an “outperform” rating and issued a $24.00 target price on shares of IMAX in a report on Monday, April 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $25.00 target price on shares of IMAX in a report on Monday, June 17th. Finally, Wedbush reissued an “outperform” rating and issued a $22.00 price objective on shares of IMAX in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.57.

IMAX Stock Up 2.7 %

Shares of IMAX stock opened at $16.86 on Thursday. The company’s fifty day simple moving average is $16.54 and its two-hundred day simple moving average is $15.78. IMAX has a 12-month low of $13.20 and a 12-month high of $20.70. The firm has a market cap of $887.17 million, a PE ratio of 35.13, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. IMAX had a net margin of 7.13% and a return on equity of 9.47%. The company had revenue of $79.12 million during the quarter, compared to analysts’ expectations of $77.88 million. As a group, sell-side analysts expect that IMAX will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other IMAX news, EVP Calamera Pablo sold 6,130 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $17.05, for a total transaction of $104,516.50. Following the completion of the transaction, the executive vice president now owns 42,269 shares in the company, valued at $720,686.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 24.08% of the stock is owned by company insiders.

Hedge Funds Weigh In On IMAX

Institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. bought a new stake in shares of IMAX in the 4th quarter worth about $33,000. Tower Research Capital LLC TRC increased its stake in IMAX by 545.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock worth $75,000 after buying an additional 4,218 shares during the period. Partnership Wealth Management LLC purchased a new position in IMAX during the 4th quarter valued at about $111,000. C M Bidwell & Associates Ltd. purchased a new position in IMAX during the 3rd quarter valued at about $160,000. Finally, SG Americas Securities LLC boosted its holdings in shares of IMAX by 65.5% in the 4th quarter. SG Americas Securities LLC now owns 11,868 shares of the company’s stock valued at $178,000 after buying an additional 4,699 shares in the last quarter. 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.