IMAX’s (IMAX) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of IMAX (NYSE:IMAX) in a report published on Wednesday, MarketBeat.com reports. The firm currently has a $32.00 price target on the stock.

Other analysts also recently issued reports about the company. Rosenblatt Securities reissued a “buy” rating and set a $28.00 price objective on shares of IMAX in a research report on Thursday, January 16th. StockNews.com downgraded IMAX from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Benchmark reaffirmed a “buy” rating and issued a $30.00 price target on shares of IMAX in a report on Friday, January 17th. Barrington Research reaffirmed an “outperform” rating and issued a $30.00 price target on shares of IMAX in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. increased their price objective on IMAX from $21.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.63.

IMAX Price Performance

Shares of NYSE:IMAX opened at $26.04 on Wednesday. IMAX has a 1 year low of $13.90 and a 1 year high of $26.84. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 59.18, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22. The business’s 50 day moving average price is $24.52 and its 200-day moving average price is $22.72.

Insiders Place Their Bets

In other news, 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 transaction of $1,425,705.00. Following the transaction, the executive vice president now owns 138,889 shares in the company, valued at approximately $3,541,669.50. The trade was a 28.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kenneth Ian Weissman sold 6,309 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.51, for a total transaction of $160,942.59. Following the completion of the sale, the insider now directly owns 25,139 shares in the company, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,176 shares of company stock worth $1,662,110. 24.08% of the stock is owned by insiders.

Institutional Investors Weigh In On IMAX

Several large investors have recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in IMAX by 138.5% in the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after acquiring an additional 561 shares during the last quarter. Huntington National Bank acquired a new stake in shares of IMAX during the 3rd quarter valued at $34,000. Quarry LP raised its position in IMAX by 78,333.3% during the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after purchasing an additional 2,350 shares during the last quarter. nVerses Capital LLC bought a new position in shares of IMAX in the 3rd quarter worth about $70,000. Finally, US Bancorp DE increased its position in IMAX by 23.4% in the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after buying an additional 1,452 shares in the last quarter. Institutional investors own 93.51% of the company’s stock.

IMAX Company Profile

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.