IMAX (NYSE:IMAX) Receives “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of IMAX (NYSE:IMAX) in a research report sent to investors on Monday morning, Benzinga reports. Rosenblatt Securities currently has a $25.00 price target on the stock.

A number of other equities research analysts also recently issued reports on the stock. Wedbush reiterated an outperform rating and set a $22.00 price objective on shares of IMAX in a research note on Friday, April 26th. Barrington Research reissued an outperform rating and issued a $24.00 price objective on shares of IMAX in a research note on Monday, April 22nd. Finally, Benchmark restated a buy rating and set a $22.00 target price on shares of IMAX in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $20.57.

IMAX Trading Up 1.8 %

Shares of IMAX stock opened at $15.67 on Monday. The stock has a market cap of $824.63 million, a P/E ratio of 32.65, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. IMAX has a 1 year low of $13.20 and a 1 year high of $20.70. The stock has a 50 day simple moving average of $16.56 and a 200 day simple moving average of $15.77.

IMAX (NYSE:IMAX) last released its earnings results on Thursday, April 25th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.05. IMAX had a return on equity of 9.47% and a net margin of 7.13%. The company had revenue of $79.12 million for the quarter, compared to analyst estimates of $77.88 million. Analysts forecast 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 stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $17.05, for a total value of $104,516.50. Following the completion of the transaction, the executive vice president now directly owns 42,269 shares in the company, valued at $720,686.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 24.08% of the company’s stock.

Hedge Funds Weigh In On IMAX

Several institutional investors and hedge funds have recently added to or reduced their stakes in IMAX. PNC Financial Services Group Inc. bought a new position in shares of IMAX during the fourth quarter worth about $33,000. Tower Research Capital LLC TRC raised its holdings in IMAX by 545.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock worth $75,000 after purchasing an additional 4,218 shares during the last quarter. Partnership Wealth Management LLC acquired a new position in shares of IMAX in the 4th quarter worth approximately $111,000. C M Bidwell & Associates Ltd. bought a new stake in shares of IMAX in the 3rd quarter valued at $160,000. Finally, SG Americas Securities LLC increased its position in shares of IMAX by 65.5% during the fourth quarter. SG Americas Securities LLC now owns 11,868 shares of the company’s stock worth $178,000 after buying an additional 4,699 shares during the period. 93.51% of the stock is currently owned by institutional investors and hedge funds.

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.