IMAX (NYSE:IMAX) Stock Rating Lowered by StockNews.com

IMAX (NYSE:IMAX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

IMAX has been the topic of several other reports. Benchmark reaffirmed a “buy” rating and issued a $30.00 price objective on shares of IMAX in a research report on Friday, January 17th. Roth Mkm increased their price objective on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barrington Research restated an “outperform” rating and issued a $30.00 target price on shares of IMAX in a research note on Friday, January 10th. Wedbush reaffirmed an “outperform” rating and set a $32.00 price target on shares of IMAX in a research note on Friday, January 17th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $28.00 price objective on shares of IMAX in a research report on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, IMAX has an average rating of “Moderate Buy” and a consensus price target of $28.63.

IMAX Trading Up 2.3 %

Shares of IMAX stock opened at $24.91 on Tuesday. IMAX has a 12 month low of $13.20 and a 12 month high of $26.84. The company has a market capitalization of $1.31 billion, a PE ratio of 56.61, a PEG ratio of 1.30 and a beta of 1.22. The stock’s fifty day simple moving average is $24.59 and its 200 day simple moving average is $22.47.

Insider Transactions at IMAX

In other IMAX news, insider Kenneth Ian Weissman sold 6,309 shares of IMAX stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.51, for a total transaction of $160,942.59. Following the completion of the transaction, the insider now directly owns 25,139 shares of the company’s stock, valued at $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Natasha Fernandes sold 2,957 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the sale, the chief financial officer now owns 14,883 shares of the company’s stock, valued at approximately $379,814.16. This represents a 16.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,176 shares of company stock worth $1,662,110 in the last ninety days. Insiders own 24.08% of the company’s stock.

Institutional Investors Weigh In On IMAX

A number of institutional investors have recently made changes to their positions in the company. US Bancorp DE boosted its stake in IMAX by 60.3% in the 4th quarter. US Bancorp DE now owns 12,276 shares of the company’s stock valued at $314,000 after purchasing an additional 4,620 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of IMAX during the fourth quarter worth $502,000. Impact Investors Inc bought a new stake in shares of IMAX in the fourth quarter valued at about $763,000. Principal Financial Group Inc. grew its stake in shares of IMAX by 69.3% in the fourth quarter. Principal Financial Group Inc. now owns 103,946 shares of the company’s stock valued at $2,661,000 after acquiring an additional 42,562 shares in the last quarter. Finally, Blue Trust Inc. increased its position in IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after acquiring an additional 561 shares during the period. Institutional investors own 93.51% of the company’s stock.

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.