IMAX’s (IMAX) “Outperform” Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of IMAX (NYSE:IMAX) in a research note published on Wednesday, MarketBeat.com reports. The brokerage currently has a $32.00 price target on the stock. Wedbush also issued estimates for IMAX’s Q4 2024 earnings at $0.21 EPS, FY2024 earnings at $0.66 EPS, Q2 2025 earnings at $0.10 EPS, Q4 2025 earnings at $0.51 EPS, FY2025 earnings at $0.92 EPS and FY2026 earnings at $1.11 EPS.

A number of other analysts have also weighed in on the company. JPMorgan Chase & Co. upped their target price on IMAX from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Roth Mkm upped their target price on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Benchmark restated a “buy” rating and set a $30.00 target price on shares of IMAX in a report on Friday, January 17th. StockNews.com lowered IMAX from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Barrington Research reiterated an “outperform” rating and set a $30.00 price objective on shares of IMAX in a report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, IMAX has a consensus rating of “Moderate Buy” and a consensus price target of $28.63.

IMAX Stock Up 0.6 %

Shares of NYSE:IMAX opened at $27.00 on Wednesday. IMAX has a 52-week low of $14.48 and a 52-week high of $27.29. The stock has a market cap of $1.42 billion, a P/E ratio of 61.36, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22. The business’s 50 day moving average is $24.55 and its 200 day moving average is $22.79.

Insider Activity at IMAX

In other 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 sale, the chief financial officer now directly owns 14,883 shares in the company, valued at $379,814.16. This trade represents a 16.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kenneth Ian Weissman sold 6,309 shares of the firm’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 sale, the insider now owns 25,139 shares in the company, valued at $641,295.89. This trade represents a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,176 shares of company stock valued at $1,662,110 in the last ninety days. Company insiders own 24.08% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC lifted its stake in IMAX by 1.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock valued at $747,000 after buying an additional 533 shares in the last quarter. Blue Trust Inc. lifted its stake in 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. MetLife Investment Management LLC lifted its stake in IMAX by 3.4% in the 4th quarter. MetLife Investment Management LLC now owns 25,918 shares of the company’s stock valued at $664,000 after buying an additional 848 shares in the last quarter. US Bancorp DE lifted its stake in IMAX by 23.4% in the 3rd 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. Finally, State of Tennessee Department of Treasury lifted its stake in IMAX by 19.8% in the 4th quarter. State of Tennessee Department of Treasury now owns 9,827 shares of the company’s stock valued at $252,000 after buying an additional 1,627 shares in the last quarter. 93.51% of the stock is owned by hedge funds and other institutional investors.

IMAX Company Profile

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.