Benchmark Reaffirms Buy Rating for IMAX (NYSE:IMAX)

Benchmark restated their buy rating on shares of IMAX (NYSE:IMAXFree Report) in a research note released on Thursday morning, Benzinga reports. They currently have a $22.00 price objective on the stock.

A number of other equities research analysts also recently commented on IMAX. Rosenblatt Securities reiterated a buy rating and set a $25.00 price target on shares of IMAX in a report on Monday, June 17th. Wedbush restated an outperform rating and issued a $22.00 target price on shares of IMAX in a report on Friday, April 26th. Finally, Barrington Research restated an outperform rating and issued a $24.00 target price on shares of IMAX in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $20.57.

View Our Latest Report on IMAX

IMAX Price Performance

Shares of NYSE IMAX opened at $16.86 on Thursday. The company has a market cap of $887.17 million, a PE ratio of 35.13, a price-to-earnings-growth ratio of 1.38 and a beta of 1.21. IMAX has a 12 month low of $13.20 and a 12 month high of $20.70. The company has a 50-day simple moving average of $16.54 and a 200-day simple moving average of $15.78.

IMAX (NYSE:IMAXGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. The business had revenue of $79.12 million during the quarter, compared to the consensus estimate of $77.88 million. IMAX had a net margin of 7.13% and a return on equity of 9.47%. On average, analysts anticipate that IMAX will post 0.6 EPS for the current year.

Insiders Place Their Bets

In other IMAX news, EVP Calamera Pablo sold 6,130 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $17.05, for a total transaction 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 $720,686.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 24.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On IMAX

A number of large investors have recently modified their holdings of the stock. Bayesian Capital Management LP grew its stake in shares of IMAX by 84.8% in the first quarter. Bayesian Capital Management LP now owns 22,884 shares of the company’s stock valued at $370,000 after buying an additional 10,500 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of IMAX by 19.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company’s stock valued at $212,000 after buying an additional 2,153 shares in the last quarter. PEAK6 Investments LLC acquired a new stake in shares of IMAX in the first quarter valued at about $210,000. Keeley Teton Advisors LLC grew its stake in shares of IMAX by 16.3% in the first quarter. Keeley Teton Advisors LLC now owns 58,605 shares of the company’s stock valued at $948,000 after buying an additional 8,205 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of IMAX by 178.7% in the first quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock valued at $7,934,000 after buying an additional 314,742 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

About IMAX

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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.

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