IMAX Co. (NYSE:IMAX) Receives Average Recommendation of “Buy” from Brokerages

IMAX Co. (NYSE:IMAX) has earned an average rating of “Buy” from the nine research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $28.63.

A number of research analysts have weighed in on the company. Roth Mkm increased their target price on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Benchmark reiterated a “buy” rating and issued a $30.00 price objective on shares of IMAX in a research note on Friday, January 17th. Rosenblatt Securities reissued a “buy” rating and issued a $28.00 price objective on shares of IMAX in a report on Thursday, January 16th. 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. Finally, Barrington Research reiterated an “outperform” rating and set a $30.00 price target on shares of IMAX in a research note on Friday, January 10th.

Insider Activity at IMAX

In related news, EVP Robert D. Lister sold 55,910 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the completion of the transaction, the executive vice president now owns 138,889 shares in the company, valued at approximately $3,541,669.50. This represents a 28.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Natasha Fernandes sold 2,957 shares of IMAX stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.52, for a total transaction of $75,462.64. Following the completion of the sale, the chief financial officer now owns 14,883 shares in the company, valued at approximately $379,814.16. This represents a 16.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,176 shares of company stock worth $1,662,110. 24.08% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in shares of IMAX by 138.5% in the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after buying an additional 561 shares in the last quarter. Huntington National Bank bought a new stake in IMAX in the 3rd quarter worth approximately $34,000. Quarry LP raised its holdings in shares of IMAX by 78,333.3% during the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after acquiring an additional 2,350 shares in the last quarter. nVerses Capital LLC bought a new position in shares of IMAX during the 3rd quarter valued at approximately $70,000. Finally, US Bancorp DE grew its holdings in shares of IMAX by 23.4% in the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after purchasing an additional 1,452 shares in the last quarter. Institutional investors own 93.51% of the company’s stock.

IMAX Stock Up 0.4 %

Shares of NYSE IMAX opened at $25.36 on Monday. IMAX has a 52-week low of $13.56 and a 52-week high of $26.84. The company has a market cap of $1.34 billion, a PE ratio of 57.64, a PEG ratio of 1.30 and a beta of 1.22. The firm’s 50-day moving average price is $24.55 and its 200-day moving average price is $22.55.

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.