Rosenblatt Securities Issues Positive Forecast for IMAX (NYSE:IMAX) Stock Price

IMAX (NYSE:IMAX) had its price objective raised by Rosenblatt Securities from $28.00 to $35.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued research reports about the company. Benchmark reissued a “buy” rating and set a $30.00 price objective on shares of IMAX in a research report on Friday, January 17th. Barrington Research boosted their price target on IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday. StockNews.com cut IMAX from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Roth Mkm boosted their price target on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. boosted their price target on IMAX from $21.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.44.

IMAX Trading Down 1.2 %

Shares of IMAX stock opened at $26.90 on Thursday. IMAX has a 1-year low of $14.94 and a 1-year high of $27.38. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 61.14, a P/E/G ratio of 1.49 and a beta of 1.22. The stock’s fifty day simple moving average is $24.65 and its 200-day simple moving average is $22.96.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The firm had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. On average, sell-side analysts predict that IMAX will post 0.64 EPS for the current year.

Insider Buying and Selling

In related news, CFO Natasha Fernandes sold 2,957 shares of the business’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 directly owns 14,883 shares in the company, valued at $379,814.16. The trade was a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kenneth Ian Weissman sold 6,309 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the transaction, the insider now owns 25,139 shares in the company, valued at $641,295.89. This represents a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,176 shares of company stock valued at $1,662,110. Insiders own 24.08% of the company’s stock.

Hedge Funds Weigh In On IMAX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in IMAX by 87.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 147,978 shares of the company’s stock valued at $3,788,000 after acquiring an additional 68,957 shares during the period. Squarepoint Ops LLC bought a new position in IMAX during the fourth quarter valued at about $999,000. Two Sigma Investments LP bought a new position in IMAX during the fourth quarter valued at about $2,411,000. State of Wyoming grew its stake in shares of IMAX by 184.6% in the 4th quarter. State of Wyoming now owns 21,606 shares of the company’s stock valued at $553,000 after purchasing an additional 14,014 shares during the period. Finally, Polar Asset Management Partners Inc. grew its stake in shares of IMAX by 191.6% in the 4th quarter. Polar Asset Management Partners Inc. now owns 204,536 shares of the company’s stock valued at $5,236,000 after purchasing an additional 134,389 shares during the period. 93.51% of the stock is currently owned by institutional investors.

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.