B. Riley Increases IMAX (NYSE:IMAX) Price Target to $30.00

IMAX (NYSE:IMAX) had its price target raised by investment analysts at B. Riley from $27.00 to $30.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s target price suggests a potential upside of 80.83% from the stock’s previous close. B. Riley also issued estimates for IMAX’s Q2 2024 earnings at $0.01 EPS and Q3 2025 earnings at $0.18 EPS.

IMAX has been the subject of a number of other reports. Benchmark reaffirmed a “buy” rating and issued a $22.00 price target on shares of IMAX in a report on Thursday, June 20th. Rosenblatt Securities reiterated a “buy” rating and set a $25.00 target price on shares of IMAX in a research report on Monday, June 17th. Barrington Research reissued an “outperform” rating and issued a $24.00 price target on shares of IMAX in a report on Monday, April 22nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $22.00 price objective on shares of IMAX in a report on Friday, June 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, IMAX has a consensus rating of “Moderate Buy” and a consensus price target of $21.86.

IMAX Trading Down 2.5 %

Shares of IMAX stock opened at $16.59 on Monday. The stock has a market capitalization of $872.97 million, a price-to-earnings ratio of 34.56, a P/E/G ratio of 1.38 and a beta of 1.26. The firm’s 50-day moving average price is $16.51 and its two-hundred day moving average price is $15.88. IMAX has a 1-year low of $13.20 and a 1-year high of $20.70.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. IMAX had a return on equity of 9.47% and a net margin of 7.13%. The business had revenue of $79.12 million for the quarter, compared to analyst estimates of $77.88 million. As a group, equities research analysts predict that IMAX will post 0.61 EPS for the current year.

Insider Buying and Selling at IMAX

In related news, EVP Calamera Pablo sold 6,130 shares of IMAX stock in a transaction on Friday, April 26th. The stock was sold at an average price of $17.05, for a total transaction of $104,516.50. Following the completion of the sale, the executive vice president now directly owns 42,269 shares of the company’s stock, valued at $720,686.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 24.08% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IMAX. PNC Financial Services Group Inc. bought a new position in shares of IMAX during the fourth quarter worth $33,000. Tower Research Capital LLC TRC lifted its holdings in IMAX by 545.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock worth $75,000 after acquiring an additional 4,218 shares in the last quarter. Partnership Wealth Management LLC acquired a new position in IMAX in the fourth quarter valued at about $111,000. SG Americas Securities LLC increased its holdings in shares of IMAX by 65.5% in the fourth quarter. SG Americas Securities LLC now owns 11,868 shares of the company’s stock worth $178,000 after acquiring an additional 4,699 shares in the last quarter. Finally, PEAK6 Investments LLC acquired a new stake in shares of IMAX during the first quarter worth about $210,000. Institutional investors and hedge funds 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.