IMAX’s (IMAX) “Buy” Rating Reiterated at Benchmark

Benchmark reissued their buy rating on shares of IMAX (NYSE:IMAX) in a research note published on Friday,Benzinga reports. Benchmark currently has a $30.00 price target on the stock.

Other equities analysts have also issued reports about the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $28.00 target price on shares of IMAX in a research report on Thursday. Barrington Research reaffirmed an “outperform” rating and issued a $30.00 price target on shares of IMAX in a report on Friday, January 10th. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. 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 research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price target on IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.13.

IMAX Trading Up 3.6 %

Shares of IMAX stock opened at $23.21 on Friday. The firm has a fifty day simple moving average of $24.88 and a 200-day simple moving average of $21.91. The company has a market capitalization of $1.22 billion, a PE ratio of 52.74, a price-to-earnings-growth ratio of 1.25 and a beta of 1.24. IMAX has a twelve month low of $13.20 and a twelve month high of $26.84.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The company had revenue of $91.50 million during the quarter, compared to analysts’ expectations of $93.71 million. During the same period in the prior year, the company posted $0.27 EPS. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. Equities research analysts predict that IMAX will post 0.77 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Robert D. Lister sold 55,910 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenneth Ian Weissman sold 6,309 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.51, for a total transaction of $160,942.59. Following the completion of the sale, the insider now directly owns 25,139 shares in the company, valued at approximately $641,295.89. This trade represents a 20.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,176 shares of company stock valued at $1,662,110 over the last quarter. Insiders own 24.08% of the company’s stock.

Hedge Funds Weigh In On IMAX

Hedge funds and other institutional investors have recently made changes to their positions in the business. Huntington National Bank bought a new position in IMAX in the 3rd quarter valued at about $34,000. Quarry LP lifted its stake in shares of IMAX by 78,333.3% in 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 during the period. nVerses Capital LLC bought a new position in shares of IMAX in the third quarter valued at approximately $70,000. US Bancorp DE increased its stake in shares of IMAX by 23.4% during the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after acquiring an additional 1,452 shares during the period. Finally, Intech Investment Management LLC bought a new stake in IMAX during the third quarter worth approximately $205,000. 93.51% of the stock is currently owned by institutional investors and hedge funds.

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.