IMAX’s (IMAX) Outperform Rating Reiterated at Wedbush

IMAX (NYSE:IMAX)‘s stock had its “outperform” rating restated by Wedbush in a research report issued to clients and investors on Wednesday, MarketBeat reports. They presently have a $32.00 target price on the stock. Wedbush’s price target suggests a potential upside of 24.37% from the company’s previous close.

IMAX has been the subject of a number of other reports. StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Benchmark restated 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 company a “buy” rating in a research report on Thursday, October 31st. Barrington Research restated an “outperform” rating and set a $30.00 target price on shares of IMAX in a research report on Friday, January 10th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $28.00 price target on shares of IMAX in a report on Thursday, January 16th. Two 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $28.63.

IMAX Trading Up 1.1 %

NYSE IMAX traded up $0.28 on Wednesday, reaching $25.73. The company’s stock had a trading volume of 83,157 shares, compared to its average volume of 604,688. IMAX has a 52 week low of $13.90 and a 52 week high of $26.84. The firm has a market cap of $1.36 billion, a PE ratio of 58.31, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22. The business has a 50-day moving average price of $24.51 and a 200 day moving average price of $22.69.

Insider Activity

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

Institutional Investors Weigh In On IMAX

Several hedge funds have recently added to or reduced their stakes in IMAX. FMR LLC raised its stake in shares of IMAX by 108.4% during the third quarter. FMR LLC now owns 3,949,643 shares of the company’s stock valued at $81,007,000 after acquiring an additional 2,054,031 shares during the last quarter. Royce & Associates LP increased its holdings in IMAX by 3.1% in the third quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock valued at $37,382,000 after purchasing an additional 54,850 shares during the period. Victory Capital Management Inc. increased its holdings in IMAX by 9.8% in the third quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company’s stock worth $29,136,000 after purchasing an additional 127,371 shares in the last quarter. Vanguard Group Inc. lifted its stake in IMAX by 11.0% in the fourth quarter. Vanguard Group Inc. now owns 612,115 shares of the company’s stock valued at $15,670,000 after buying an additional 60,762 shares during the period. Finally, Pier Capital LLC grew its position in shares of IMAX by 132.6% during the 4th quarter. Pier Capital LLC now owns 478,760 shares of the company’s stock worth $12,256,000 after buying an additional 272,949 shares during the period. 93.51% of the stock is currently owned by institutional investors and hedge funds.

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.