B. Riley set a $34.00 target price on Imax (NYSE:IMAX) in a research report released on Tuesday morning, TipRanks reports. The firm currently has a buy rating on the stock. B. Riley also issued estimates for Imax’s Q3 2019 earnings at $0.10 EPS, FY2019 earnings at $0.76 EPS, Q1 2020 earnings at $0.15 EPS, Q2 2020 earnings at $0.19 EPS, Q3 2020 earnings at $0.15 EPS, Q4 2020 earnings at $0.37 EPS and FY2020 earnings at $0.85 EPS.
Other equities research analysts have also recently issued reports about the company. TheStreet cut Imax from a b- rating to a c rating in a research note on Thursday, May 23rd. Wedbush reaffirmed an outperform rating and issued a $28.00 price target on shares of Imax in a research note on Wednesday, July 31st. ValuEngine cut Imax from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research cut Imax from a buy rating to a hold rating and set a $23.00 price target on the stock. in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $27.17.
Shares of IMAX traded up $0.28 during mid-day trading on Tuesday, hitting $22.38. 1,357 shares of the company’s stock traded hands, compared to its average volume of 217,885. Imax has a 1 year low of $17.55 and a 1 year high of $26.10. The firm has a market capitalization of $1.36 billion, a P/E ratio of 39.46, a PEG ratio of 1.51 and a beta of 0.97. The business’s 50-day moving average price is $21.29 and its 200-day moving average price is $22.03.
In other news, CEO Richard L. Gelfond sold 8,384 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $20.74, for a total transaction of $173,884.16. Following the transaction, the chief executive officer now directly owns 258,392 shares of the company’s stock, valued at $5,359,050.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Patrick Mcclymont sold 1,915 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $21.35, for a total value of $40,885.25. Following the transaction, the chief financial officer now directly owns 16,481 shares in the company, valued at $351,869.35. The disclosure for this sale can be found here. 20.20% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of IMAX. Nuveen Asset Management LLC purchased a new stake in shares of Imax during the second quarter worth about $16,497,000. Victory Capital Management Inc. purchased a new position in Imax during the 2nd quarter valued at approximately $9,094,000. Eagle Asset Management Inc. purchased a new position in Imax during the 2nd quarter valued at approximately $7,809,000. Renaissance Technologies LLC grew its holdings in Imax by 83.0% during the 2nd quarter. Renaissance Technologies LLC now owns 835,600 shares of the company’s stock valued at $16,879,000 after buying an additional 379,000 shares in the last quarter. Finally, QV Investors Inc. purchased a new position in Imax during the 2nd quarter valued at approximately $6,666,000. Institutional investors and hedge funds own 77.55% of the company’s stock.
IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company that specializes in motion picture technologies and presentations worldwide. It offers cinematic solution comprising proprietary software, theater architecture, and equipment. The company engages in Digital Re-Mastering (DMR) of films into the IMAX format for exhibition in the IMAX theater network; the provision of IMAX premium theater systems to exhibitor customers through sales, long-term leases, and joint revenue sharing arrangements; the distribution of documentary films; the provision of production technical support and film post-production services; the ownership and operation of IMAX theaters; and the provision of camera and other miscellaneous items rental services.
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