StockNews.com Initiates Coverage on IMAX (NYSE:IMAX)

StockNews.com began coverage on shares of IMAX (NYSE:IMAX – Get Rating) in a research report sent to investors on Thursday. The brokerage issued a hold rating on the stock.

Other research analysts have also issued research reports about the company. B. Riley boosted their price target on IMAX from $20.00 to $23.00 and gave the stock a buy rating in a research report on Monday, December 5th. JPMorgan Chase & Co. boosted their price target on IMAX from $16.00 to $19.00 and gave the company a neutral rating in a research note on Thursday, February 23rd. The Goldman Sachs Group upped their target price on IMAX from $12.00 to $14.00 and gave the company a sell rating in a research report on Tuesday, February 28th. Roth Capital reiterated a buy rating on shares of IMAX in a research report on Monday, February 13th. Finally, Rosenblatt Securities upped their price objective on IMAX from $22.00 to $25.00 and gave the stock a buy rating in a research report on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, IMAX presently has an average rating of Moderate Buy and a consensus price target of $20.63.

IMAX Stock Performance

Shares of IMAX stock opened at $16.53 on Thursday. The business’s 50 day simple moving average is $17.14 and its 200 day simple moving average is $15.57. IMAX has a 52-week low of $12.13 and a 52-week high of $20.50. The firm has a market cap of $892.12 million, a PE ratio of -42.38, a P/E/G ratio of 2.66 and a beta of 1.38.

IMAX (NYSE:IMAX – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $98.05 million for the quarter, compared to analyst estimates of $95.97 million. IMAX had a negative return on equity of 5.96% and a negative net margin of 7.58%. As a group, equities research analysts predict that IMAX will post 0.33 EPS for the current year.

Insider Activity at IMAX

In other IMAX news, insider Mark Welton sold 20,000 shares of the stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $18.35, for a total value of $367,000.00. Following the transaction, the insider now owns 82,271 shares in the company, valued at $1,509,672.85. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Calamera Pablo sold 7,697 shares of the stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $18.32, for a total transaction of $141,009.04. Following the completion of the sale, the executive vice president now directly owns 34,106 shares of the company’s stock, valued at $624,821.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Welton sold 20,000 shares of the stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $18.35, for a total value of $367,000.00. Following the sale, the insider now directly owns 82,271 shares of the company’s stock, valued at $1,509,672.85. The disclosure for this sale can be found here. 22.22% of the stock is owned by corporate insiders.

Institutional Trading of IMAX

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its position in IMAX by 164.8% in the third quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the company’s stock worth $46,000 after buying an additional 2,029 shares during the last quarter. Point72 Hong Kong Ltd grew its position in shares of IMAX by 1,905.6% in the third quarter. Point72 Hong Kong Ltd now owns 5,395 shares of the company’s stock valued at $76,000 after purchasing an additional 5,126 shares in the last quarter. Great West Life Assurance Co. Can purchased a new position in IMAX during the third quarter worth about $79,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in IMAX by 26.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,864 shares of the company’s stock worth $101,000 after buying an additional 1,443 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of IMAX in the 3rd quarter worth about $103,000. 75.36% of the stock is owned by hedge funds and other institutional investors.

About IMAX

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IMAX Corp. is an entertainment technology company, which engages in the business of motion picture technologies and presentations. It operates through following business segments: IMAX Technology Network, IMAX Technology Sales and Maintenance, and Film Distribution and Post-Production. The IMAX Technology Network segment includes the IMAX DMR segment and contingent rent from the JRSA segment.