IMAX (NYSE:IMAX) Given Buy Rating at Benchmark

Benchmark restated their buy rating on shares of IMAX (NYSE:IMAX) in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a $22.00 target price on the stock.

IMAX has been the subject of a number of other research reports. StockNews.com cut IMAX from a buy rating to a hold rating in a report on Saturday, January 27th. JPMorgan Chase & Co. lowered their price target on shares of IMAX from $20.00 to $17.00 and set a neutral rating for the company in a report on Tuesday, February 6th. The Goldman Sachs Group cut their price objective on shares of IMAX from $15.00 to $13.00 and set a sell rating on the stock in a report on Thursday, January 11th. B. Riley lowered their target price on IMAX from $27.00 to $21.00 and set a buy rating for the company in a research note on Tuesday, January 2nd. Finally, Barrington Research reiterated an outperform rating and issued a $24.00 price target on shares of IMAX in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $20.57.

IMAX Stock Down 0.4 %

IMAX opened at $17.09 on Friday. The company has a 50 day moving average of $16.45 and a two-hundred day moving average of $16.04. IMAX has a 52-week low of $13.20 and a 52-week high of $21.45. The company has a market cap of $904.67 million, a P/E ratio of 35.59, a P/E/G ratio of 1.50 and a beta of 1.25.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.05. The firm had revenue of $79.12 million during the quarter, compared to the consensus estimate of $77.88 million. IMAX had a return on equity of 9.47% and a net margin of 7.13%. Research analysts anticipate that IMAX will post 0.57 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On IMAX

A number of institutional investors have recently modified their holdings of the business. Private Capital Management LLC boosted its stake in IMAX by 54.3% in the fourth quarter. Private Capital Management LLC now owns 1,185,715 shares of the company’s stock valued at $17,809,000 after acquiring an additional 417,169 shares during the period. Mizuho Markets Americas LLC acquired a new position in IMAX during the 3rd quarter valued at approximately $7,118,000. Kodai Capital Management LP bought a new position in IMAX during the 4th quarter worth $5,287,000. Alpine Woods Capital Investors LLC increased its position in IMAX by 33.8% in the third quarter. Alpine Woods Capital Investors LLC now owns 392,278 shares of the company’s stock worth $7,579,000 after buying an additional 99,163 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of IMAX by 13.0% during the fourth quarter. Victory Capital Management Inc. now owns 825,319 shares of the company’s stock valued at $12,396,000 after acquiring an additional 95,182 shares during the period. Institutional investors own 93.51% of the company’s stock.

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.