IMAX (NYSE:IMAX) Reaches New 12-Month High - What's Next?

IMAX Co. (NYSE:IMAX - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $26.85 and last traded at $26.68, with a volume of 59750 shares changing hands. The stock had previously closed at $26.06.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on IMAX. Benchmark reaffirmed a "buy" rating and set a $30.00 price objective on shares of IMAX in a report on Friday, January 17th. Roth Mkm increased their price objective on IMAX from $27.00 to $28.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Wedbush restated an "outperform" rating and issued a $32.00 target price on shares of IMAX in a research note on Wednesday, February 12th. Barrington Research reaffirmed an "outperform" rating and set a $30.00 target price on shares of IMAX in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. lifted 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. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $28.63.

IMAX Price Performance

The stock has a market cap of $1.42 billion, a PE ratio of 61.36, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22. The stock has a 50-day moving average price of $24.55 and a two-hundred day moving average price of $22.82.

Insider Activity

In other IMAX news, CFO Natasha Fernandes sold 2,957 shares of IMAX stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.52, for a total value of $75,462.64. Following the completion of the transaction, the chief financial officer now directly owns 14,883 shares of the company's stock, valued at $379,814.16. This trade represents a 16.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Robert D. Lister sold 55,910 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the completion of the sale, the executive vice president now owns 138,889 shares in the company, valued at approximately $3,541,669.50. This trade represents a 28.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,176 shares of company stock worth $1,662,110. 24.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On IMAX

Several hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. increased its stake in IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after buying an additional 561 shares during the period. Huntington National Bank bought a new position in IMAX in the third quarter worth about $34,000. Quarry LP lifted its position in IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company's stock valued at $48,000 after acquiring an additional 2,350 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of IMAX in the 3rd quarter worth $70,000. Finally, US Bancorp DE grew its stake in shares of IMAX by 23.4% during the third quarter. US Bancorp DE now owns 7,656 shares of the company's stock worth $157,000 after acquiring an additional 1,452 shares during the last quarter. 93.51% of the stock is currently 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.