IMAX (NYSE:IMAX) Rating Lowered to Hold at StockNews.com

IMAX (NYSE:IMAX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

IMAX has been the subject of a number of other reports. Wedbush restated an “outperform” rating and issued a $32.00 price objective on shares of IMAX in a report on Friday, January 17th. Rosenblatt Securities restated a “buy” rating and set a $28.00 price objective on shares of IMAX in a research report on Thursday, January 16th. Roth Mkm upped their target price on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Barrington Research restated an “outperform” rating and set a $30.00 price target on shares of IMAX in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of IMAX from $21.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.63.

IMAX Stock Up 1.1 %

Shares of NYSE IMAX traded up $0.26 during midday trading on Tuesday, reaching $24.39. 396,891 shares of the company were exchanged, compared to its average volume of 621,490. IMAX has a one year low of $13.20 and a one year high of $26.84. The stock has a market cap of $1.28 billion, a P/E ratio of 55.42, a PEG ratio of 1.30 and a beta of 1.22. The stock’s 50-day moving average price is $24.61 and its 200-day moving average price is $22.46.

Insider Transactions at IMAX

In related news, EVP Robert D. Lister sold 55,910 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kenneth Ian Weissman sold 6,309 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were 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 have sold 65,176 shares of company stock worth $1,662,110 in the last 90 days. Insiders own 24.08% of the company’s stock.

Hedge Funds Weigh In On IMAX

Large investors have recently modified their holdings of the business. nVerses Capital LLC bought a new stake in shares of IMAX during the 3rd quarter valued at $70,000. US Bancorp DE grew its holdings in IMAX by 23.4% during 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. Victory Capital Management Inc. increased its position in shares of IMAX by 9.8% during the third quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company’s stock valued at $29,136,000 after buying an additional 127,371 shares during the period. Huntington National Bank purchased a new stake in shares of IMAX in the third quarter worth about $34,000. Finally, Royce & Associates LP boosted its position in shares of IMAX by 3.1% in the third quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock valued at $37,382,000 after acquiring an additional 54,850 shares during the period. Hedge funds and other institutional investors own 93.51% of the company’s stock.

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.