IMAX’s (IMAX) Outperform Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of IMAX (NYSE:IMAX) in a report released on Thursday,RTT News reports. They currently have a $32.00 price objective on the stock.

Several other research firms have also recently weighed in on IMAX. Benchmark restated a “buy” rating and issued a $30.00 price target on shares of IMAX in a research note on Thursday. Roth Mkm boosted their price target on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Rosenblatt Securities boosted their price target on IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday. Wells Fargo & Company boosted their price target on IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, StockNews.com cut IMAX from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, IMAX currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

IMAX Trading Down 3.4 %

Shares of NYSE:IMAX opened at $26.03 on Thursday. The stock has a fifty day simple moving average of $24.65 and a two-hundred day simple moving average of $23.01. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 53.11, a PEG ratio of 1.49 and a beta of 1.22. IMAX has a 12-month low of $14.94 and a 12-month high of $27.77.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The company had revenue of $92.67 million for the quarter, compared to analysts’ expectations of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. As a group, equities research analysts predict that IMAX will post 0.91 EPS for the current year.

Insider Activity at IMAX

In other IMAX news, CFO Natasha Fernandes sold 2,957 shares of the business’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 completion of the sale, the chief financial officer now owns 14,883 shares of the company’s stock, 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 document filed with the SEC, which is accessible through the SEC website. 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 sale, the executive vice president now directly owns 138,889 shares of the company’s stock, valued at $3,541,669.50. This represents a 28.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,176 shares of company stock worth $1,662,110. 24.08% of the stock is owned by insiders.

Institutional Trading of IMAX

Several hedge funds have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in IMAX by 87.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 147,978 shares of the company’s stock valued at $3,788,000 after purchasing an additional 68,957 shares during the period. Squarepoint Ops LLC bought a new position in shares of IMAX in the fourth quarter worth about $999,000. Two Sigma Investments LP bought a new position in shares of IMAX in the fourth quarter worth about $2,411,000. State of Wyoming boosted its stake in shares of IMAX by 184.6% in the fourth quarter. State of Wyoming now owns 21,606 shares of the company’s stock worth $553,000 after acquiring an additional 14,014 shares during the period. Finally, Polar Asset Management Partners Inc. boosted its stake in shares of IMAX by 191.6% in the fourth quarter. Polar Asset Management Partners Inc. now owns 204,536 shares of the company’s stock worth $5,236,000 after acquiring an additional 134,389 shares during the period. Institutional investors 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.