1 week Ago By ABMN Staff
StockNews.com upgraded shares of IMAX ( NYSE:IMAX – Free Report ) from a hold rating to a buy rating in a research report sent to investors on Thursday. Several other research analysts have also commented on IMAX.
Benchmark boosted their price objective on shares of IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, December 13th.
Rosenblatt Securities restated a “buy” rating and set a $28.00 price target on shares of IMAX in a research note on Thursday, October 31st. Roth Mkm boosted their price objective on shares of IMAX from $27.
00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co.
raised their price objective on IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th.
Finally, Barrington Research restated an “outperform” rating and set a $24.00 price objective on shares of IMAX in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock.
Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.11. Get Our Latest Analysis on IMAX IMAX Stock Performance IMAX ( NYSE:IMAX – Get Free Report ) last released its quarterly earnings results on Wednesday, October 30th.
The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.
12. IMAX had a net margin of 6.74% and a return on equity of 7.
53%. The firm had revenue of $91.50 million during the quarter, compared to analysts’ expectations of $93.
71 million. During the same period in the previous year, the company earned $0.27 EPS.
The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, research analysts forecast that IMAX will post 0.
77 earnings per share for the current year. Insider Buying and Selling at IMAX In other IMAX news, EVP Robert D. Lister sold 55,910 shares of the stock in a transaction that occurred on 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 approximately $3,541,669.50. This represents a 28.
70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link . Also, CFO Natasha Fernandes sold 2,957 shares of the firm’s stock in a transaction that occurred on 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 directly owns 14,883 shares in the company, valued at approximately $379,814.16. The trade was 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 over the last quarter.
24.08% of the stock is currently owned by company insiders. Institutional Trading of IMAX Hedge funds have recently made changes to their positions in the company.
Bank of New York Mellon Corp lifted its holdings in shares of IMAX by 90.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock valued at $9,856,000 after buying an additional 279,410 shares during the period.
Principal Financial Group Inc. grew its holdings in IMAX by 18.5% during the 2nd quarter.
Principal Financial Group Inc. now owns 63,818 shares of the company’s stock valued at $1,070,000 after buying an additional 9,974 shares during the last quarter. Victory Capital Management Inc.
lifted its position in shares of IMAX by 33.1% in the second quarter. Victory Capital Management Inc.
now owns 1,293,221 shares of the company’s stock valued at $21,687,000 after acquiring an additional 321,506 shares in the last quarter. Foundry Partners LLC lifted its holdings in IMAX by 46.8% in the 2nd quarter.
Foundry Partners LLC now owns 182,200 shares of the company’s stock valued at $3,055,000 after purchasing an additional 58,115 shares in the last quarter. Finally, Wedbush Securities Inc. lifted its stake in shares of IMAX by 112.
7% during the second quarter. Wedbush Securities Inc. now owns 29,651 shares of the company’s stock valued at $497,000 after buying an additional 15,712 shares during the period.
Institutional investors and hedge funds own 93.51% of the company’s stock. IMAX Company Profile ( Get Free Report ) 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. Featured Stories Receive News & Ratings for IMAX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IMAX and related companies with MarketBeat.
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