IMAX’s (IMAX) Buy Rating Reaffirmed at Benchmark

Benchmark reissued their buy rating on shares of IMAX (NYSE:IMAX) in a research note issued to investors on Friday morning, Benzinga reports. Benchmark currently has a $22.00 price objective on the stock.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group dropped their price target on IMAX from $15.00 to $13.00 and set a sell rating for the company in a research report on Thursday, January 11th. Barrington Research reaffirmed an outperform rating and issued a $24.00 target price on shares of IMAX in a research note on Monday, April 22nd. B. Riley reduced their price target on IMAX from $27.00 to $21.00 and set a buy rating on the stock in a report on Tuesday, January 2nd. Rosenblatt Securities dropped their price objective on shares of IMAX from $30.00 to $25.00 and set a buy rating for the company in a report on Tuesday, February 13th. Finally, Wedbush reaffirmed an outperform rating and set a $22.00 target price on shares of IMAX in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, IMAX has a consensus rating of Moderate Buy and an average price target of $20.57.

IMAX Stock Performance

Shares of IMAX stock 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 stock’s fifty day moving average is $16.45 and its two-hundred day moving average is $16.04. The firm has a market capitalization of $904.67 million, a P/E ratio of 35.59, a PEG ratio of 1.50 and a beta of 1.25.

IMAX (NYSE:IMAX) last issued its earnings results on Thursday, April 25th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. The business had revenue of $79.12 million during 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%. On average, equities analysts forecast that IMAX will post 0.57 earnings per share for the current year.

Insider Buying and Selling at IMAX

In other news, EVP Calamera Pablo sold 6,130 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $17.05, for a total value of $104,516.50. Following the sale, the executive vice president now directly owns 42,269 shares of the company’s stock, valued at approximately $720,686.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Calamera Pablo sold 6,130 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $17.05, for a total transaction of $104,516.50. Following the completion of the transaction, the executive vice president now directly owns 42,269 shares in the company, valued at $720,686.45. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Robert D. Lister sold 25,000 shares of IMAX stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the completion of the sale, the vice president now directly owns 138,889 shares of the company’s stock, valued at $2,343,057.43. The disclosure for this sale can be found here. 24.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. purchased a new position in IMAX in the fourth quarter valued at $33,000. Tower Research Capital LLC TRC raised its position in IMAX by 545.0% in 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 in the last quarter. SG Americas Securities LLC purchased a new position in shares of IMAX in the 3rd quarter valued at about $139,000. Partnership Wealth Management LLC purchased a new stake in shares of IMAX during the fourth quarter worth approximately $111,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in IMAX in the third quarter valued at approximately $160,000. Hedge funds and other 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.