IMAX Co. (NYSE:IMAX) Given Average Recommendation of “Buy” by Brokerages

IMAX Co. (NYSE:IMAX) has received a consensus rating of “Buy” from the nine analysts that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $28.63.

Several equities analysts have issued reports on IMAX shares. JPMorgan Chase & Co. lifted their price objective on IMAX from $21.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Benchmark reaffirmed a “buy” rating and issued a $30.00 price target on shares of IMAX in a report on Friday, January 17th. Wedbush reissued an “outperform” rating and set a $32.00 price objective on shares of IMAX in a report on Friday, January 17th. Roth Mkm boosted their target price on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $28.00 price target on shares of IMAX in a research note on Thursday, January 16th.

Insider Activity at IMAX

In other IMAX news, CFO Natasha Fernandes sold 2,957 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the transaction, the chief financial officer now owns 14,883 shares in the company, valued at approximately $379,814.16. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert D. Lister sold 55,910 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.50, for a total value of $1,425,705.00. Following the transaction, the executive vice president now owns 138,889 shares of the company’s stock, valued at $3,541,669.50. The trade was a 28.70 % decrease in their ownership of the stock. 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 ninety days. Company insiders own 24.08% of the company’s stock.

Institutional Investors Weigh In On IMAX

Several hedge funds have recently bought and sold shares of the company. Blue Trust Inc. increased its position in shares of IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after buying an additional 561 shares in the last quarter. Huntington National Bank bought a new stake in shares of IMAX in the third quarter worth about $34,000. Quarry LP increased its holdings in shares of IMAX by 78,333.3% in the third quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after acquiring an additional 2,350 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of IMAX during the third quarter worth about $70,000. Finally, US Bancorp DE lifted its holdings in shares of IMAX by 23.4% during the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after purchasing an additional 1,452 shares in the last quarter. 93.51% of the stock is currently owned by institutional investors and hedge funds.

IMAX Trading Up 0.4 %

NYSE:IMAX opened at $25.36 on Monday. The stock has a market capitalization of $1.34 billion, a P/E ratio of 57.64, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22. IMAX has a 1 year low of $13.56 and a 1 year high of $26.84. The firm has a 50 day moving average of $24.55 and a 200-day moving average of $22.61.

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.