Wedbush Reiterates Outperform Rating for IMAX (NYSE:IMAX)

Wedbush reaffirmed their outperform rating on shares of IMAX (NYSE:IMAX) in a research note released on Friday, Benzinga reports. Wedbush currently has a $22.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group dropped their price objective on IMAX from $15.00 to $13.00 and set a sell rating for the company in a report on Thursday, January 11th. Benchmark reaffirmed a buy rating and issued a $22.00 target price on shares of IMAX in a research report on Tuesday, April 16th. JPMorgan Chase & Co. reduced their price target on shares of IMAX from $20.00 to $17.00 and set a neutral rating on the stock in a research report on Tuesday, February 6th. StockNews.com lowered shares of IMAX from a buy rating to a hold rating in a report on Saturday, January 27th. Finally, Rosenblatt Securities reduced their target price on IMAX from $30.00 to $25.00 and set a buy rating on the stock in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $20.57.

IMAX Stock Performance

NYSE:IMAX opened at $17.09 on Friday. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $21.45. The business has a 50 day moving average price of $16.45 and a 200-day moving average price of $16.04. The firm has a market cap of $904.67 million, a PE ratio of 35.59, a price-to-earnings-growth ratio of 1.50 and a beta of 1.25.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. The firm had revenue of $79.12 million for the quarter, compared to analysts’ expectations of $77.88 million. IMAX had a net margin of 7.13% and a return on equity of 9.47%. Research analysts predict that IMAX will post 0.57 EPS for the current year.

Insider Transactions at IMAX

In related news, EVP Calamera Pablo sold 6,130 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $17.05, for a total value of $104,516.50. Following the transaction, the executive vice president now owns 42,269 shares in the company, valued at approximately $720,686.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other IMAX 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 value of $104,516.50. Following the completion of the sale, the executive vice president now owns 42,269 shares of the company’s stock, valued at approximately $720,686.45. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert D. Lister sold 25,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $16.87, for a total transaction of $421,750.00. Following the transaction, the vice president now owns 138,889 shares in the company, valued at approximately $2,343,057.43. The disclosure for this sale can be found here. Insiders own 24.33% of the company’s stock.

Hedge Funds Weigh In On IMAX

A number of institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. bought a new position in IMAX in the fourth quarter valued at about $33,000. Tower Research Capital LLC TRC grew its stake in shares of IMAX by 545.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock valued at $75,000 after purchasing an additional 4,218 shares during the period. SG Americas Securities LLC purchased a new stake in shares of IMAX during the 3rd quarter valued at about $139,000. Partnership Wealth Management LLC bought a new position in shares of IMAX in the 4th quarter worth approximately $111,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of IMAX in the third quarter worth approximately $160,000. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

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.