Wedbush Reiterates “Outperform” Rating for IMAX (NYSE:IMAX)

Wedbush reaffirmed their outperform rating on shares of IMAX (NYSE:IMAX) in a research note released on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has a $32.00 target price on the stock.

IMAX has been the topic of a number of other research reports. Barrington Research reiterated an “outperform” rating and set a $30.00 price target on shares of IMAX in a report on Friday, January 10th. StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Rosenblatt Securities restated a “buy” rating and issued a $28.00 target price on shares of IMAX in a report on Thursday, January 16th. Roth Mkm lifted their price target 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, JPMorgan Chase & Co. boosted their price objective on shares of IMAX from $21.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $28.63.

IMAX Stock Up 2.3 %

NYSE IMAX opened at $26.04 on Wednesday. The company has a 50-day simple moving average of $24.52 and a two-hundred day simple moving average of $22.72. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 59.18, a PEG ratio of 1.40 and a beta of 1.22. IMAX has a 12-month low of $13.90 and a 12-month high of $26.84.

Insiders Place Their Bets

In other news, CFO Natasha Fernandes sold 2,957 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.52, for a total value of $75,462.64. Following the transaction, the chief financial officer now owns 14,883 shares of the company’s stock, valued at approximately $379,814.16. The trade was a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kenneth Ian Weissman sold 6,309 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the completion of the transaction, the insider now directly owns 25,139 shares in the company, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their position. 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. Corporate insiders own 24.08% of the company’s stock.

Institutional Trading of IMAX

Large investors have recently bought and sold shares of the company. nVerses Capital LLC purchased a new position in IMAX during the third quarter worth about $70,000. US Bancorp DE grew its stake in shares of IMAX by 23.4% in the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after buying an additional 1,452 shares in the last quarter. Victory Capital Management Inc. grew its stake in IMAX by 9.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company’s stock valued at $29,136,000 after purchasing an additional 127,371 shares in the last quarter. Huntington National Bank acquired a new stake in IMAX during the 3rd quarter valued at approximately $34,000. Finally, Royce & Associates LP grew its stake in IMAX by 3.1% during the 3rd quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock valued at $37,382,000 after purchasing an additional 54,850 shares in the last quarter. Institutional investors and hedge funds 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.