IMAX (NYSE:IMAX) Earns Outperform Rating from Wedbush

IMAX (NYSE:IMAX - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Wedbush in a research note issued to investors on Wednesday, MarketBeat reports. They currently have a $32.00 target price on the stock. Wedbush's target price indicates a potential upside of 18.54% from the stock's previous close. 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.

IMAX has been the topic of several other reports. StockNews.com downgraded IMAX from a "buy" rating to a "hold" rating in a report on Tuesday, February 4th. Barrington Research restated an "outperform" rating and issued a $30.00 target price on shares of IMAX in a research note on Friday, January 10th. Roth Mkm increased their price objective on IMAX from $27.00 to $28.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. 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. Finally, Benchmark restated a "buy" rating and set a $30.00 price target on shares of IMAX in a research note on Friday, January 17th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.63.

IMAX Price Performance

Shares of IMAX stock traded up $0.17 during trading on Wednesday, hitting $27.00. The stock had a trading volume of 1,112,846 shares, compared to its average volume of 621,607. The stock has a market cap of $1.42 billion, a PE ratio of 61.36, a PEG ratio of 1.40 and a beta of 1.22. IMAX has a 12 month low of $14.48 and a 12 month high of $27.29. The firm's fifty day simple moving average is $24.55 and its 200-day simple moving average is $22.81.

Insider Activity at IMAX

In related news, CFO Natasha Fernandes sold 2,957 shares of the company'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 sale, the chief financial officer now owns 14,883 shares in the company, valued at $379,814.16. This represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kenneth Ian Weissman sold 6,309 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.51, for a total transaction of $160,942.59. Following the transaction, the insider now directly owns 25,139 shares of the company's stock, valued at $641,295.89. This represents a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,176 shares of company stock valued at $1,662,110 in the last three months. 24.08% of the stock is owned by insiders.

Hedge Funds Weigh In On IMAX

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC boosted its stake in shares of IMAX by 1.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company's stock valued at $747,000 after purchasing an additional 533 shares during the period. Blue Trust Inc. grew its position in shares of 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 during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of 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 purchasing an additional 848 shares during the last quarter. US Bancorp DE grew its position 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. Finally, State of Tennessee Department of Treasury increased its stake in IMAX by 19.8% in the fourth quarter. State of Tennessee Department of Treasury now owns 9,827 shares of the company's stock valued at $252,000 after purchasing an additional 1,627 shares during the period. 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.