IMAX (NYSE:IMAX) Rating Lowered to Hold at StockNews.com

IMAX (NYSE:IMAX – Get Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Other analysts have also recently issued reports about the stock. Rosenblatt Securities upped their price objective on shares of IMAX from $25.00 to $27.00 in a research note on Friday, April 28th. Barrington Research upped their price objective on shares of IMAX from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, April 21st. Finally, B. Riley increased their price target on shares of IMAX from $26.00 to $27.00 in a research note on Friday, April 28th. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.63.

Get IMAX alerts:

IMAX Stock Up 5.9 %

NYSE:IMAX opened at $18.09 on Friday. IMAX has a 12-month low of $12.13 and a 12-month high of $21.82. The firm has a market capitalization of $987.26 million, a PE ratio of -150.71, a price-to-earnings-growth ratio of 2.25 and a beta of 1.37. The firm has a 50-day moving average price of $18.02 and a 200 day moving average price of $17.86.

IMAX (NYSE:IMAX – Get Free Report) last issued its quarterly earnings data on Thursday, April 27th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.04. The firm had revenue of $86.95 million for the quarter, compared to analysts’ expectations of $78.50 million. IMAX had a negative net margin of 2.06% and a negative return on equity of 1.12%. On average, research analysts expect that IMAX will post 0.38 EPS for the current year.

Insider Buying and Selling at IMAX

In other IMAX news, CEO Richard L. Gelfond sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $20.95, for a total value of $2,095,000.00. Following the transaction, the chief executive officer now directly owns 388,678 shares of the company’s stock, valued at $8,142,804.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other IMAX news, CEO Richard L. Gelfond sold 100,000 shares of the stock in a transaction on Monday, May 1st. The shares were sold at an average price of $20.95, for a total value of $2,095,000.00. Following the sale, the chief executive officer now directly owns 388,678 shares in the company, valued at $8,142,804.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Denny Tu sold 10,000 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $20.81, for a total transaction of $208,100.00. Following the completion of the sale, the chief marketing officer now owns 16,304 shares in the company, valued at $339,286.24. The disclosure for this sale can be found here. Insiders own 24.33% of the company’s stock.

Institutional Investors Weigh In On IMAX

Several hedge funds have recently bought and sold shares of the company. Legal & General Group Plc raised its holdings in IMAX by 1.4% in the fourth quarter. Legal & General Group Plc now owns 43,759 shares of the company’s stock worth $642,000 after purchasing an additional 613 shares during the period. SRS Capital Advisors Inc. raised its holdings in shares of IMAX by 11.1% during the first quarter. SRS Capital Advisors Inc. now owns 6,492 shares of the company’s stock worth $125,000 after acquiring an additional 650 shares during the period. Harbor Investment Advisory LLC raised its holdings in shares of IMAX by 42.5% during the first quarter. Harbor Investment Advisory LLC now owns 2,425 shares of the company’s stock worth $47,000 after acquiring an additional 723 shares during the period. Becker Capital Management Inc. raised its holdings in shares of IMAX by 0.3% during the first quarter. Becker Capital Management Inc. now owns 241,941 shares of the company’s stock worth $4,640,000 after acquiring an additional 834 shares during the period. Finally, Mission Wealth Management LP raised its holdings in shares of IMAX by 1.8% during the fourth quarter. Mission Wealth Management LP now owns 50,050 shares of the company’s stock worth $734,000 after acquiring an additional 900 shares during the period. 76.46% of the stock is currently owned by institutional investors and hedge funds.

About IMAX

(Get Free Report)

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates through three segments: IMAX Technology Network; IMAX Technology Sales and Maintenance; and Film Distribution and Post-Production. 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.

Featured Stories

• Five stocks we like better than IMAX
• Delta Takes Flight: Double-Digit Upside In Sight
• Generac Powers Up as Summer Temperatures Rise
• 3 Reasons Why Rivian Can Continue To Surge Higher
• Despite Breaking Higher, Analysts Remain Cautious HP Inc.
• PepsiCo Can Soar To New Highs In The 2nd Half

Receive News & Ratings for IMAX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IMAX and related companies with MarketBeat.com's FREE daily email newsletter.