B. Riley set a $34.00 price target on Imax (NYSE:IMAX) in a research report released on Tuesday, 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.
Several other research analysts also recently commented on the company. Zacks Investment Research downgraded Imax from a buy rating to a hold rating and set a $23.00 price objective on the stock. in a report on Tuesday, July 2nd. Wedbush reiterated an outperform rating and issued a $28.00 price target on shares of Imax in a report on Wednesday, July 31st. TheStreet downgraded Imax from a b- rating to a c rating in a report on Thursday, May 23rd. Finally, ValuEngine downgraded Imax from a hold rating to a sell rating in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $27.17.
IMAX traded up $0.28 during trading on Tuesday, hitting $22.38. 1,357 shares of the stock were exchanged, compared to its average volume of 217,885. The firm has a 50 day simple moving average of $21.29 and a 200 day simple moving average of $22.03. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 39.46, a P/E/G ratio of 1.51 and a beta of 0.97. Imax has a 1 year low of $17.55 and a 1 year high of $26.10.
In related news, CFO Patrick Mcclymont sold 1,915 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $21.35, for a total transaction of $40,885.25. Following the transaction, the chief financial officer now directly owns 16,481 shares in the company, valued at approximately $351,869.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Richard L. Gelfond sold 8,384 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $20.74, for a total value of $173,884.16. Following the transaction, the chief executive officer now owns 258,392 shares in the company, valued at $5,359,050.08. The disclosure for this sale can be found here. Company insiders own 20.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in Imax by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,719,609 shares of the company’s stock worth $32,346,000 after acquiring an additional 85,783 shares during the period. BNP Paribas Arbitrage SA raised its holdings in Imax by 50,668.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 11,169 shares of the company’s stock worth $253,000 after purchasing an additional 11,147 shares during the period. California Public Employees Retirement System raised its holdings in Imax by 2.6% in the 1st quarter. California Public Employees Retirement System now owns 103,656 shares of the company’s stock worth $2,351,000 after purchasing an additional 2,607 shares during the period. Trillium Asset Management LLC raised its holdings in Imax by 12.9% in the 1st quarter. Trillium Asset Management LLC now owns 73,791 shares of the company’s stock worth $1,674,000 after purchasing an additional 8,451 shares during the period. Finally, Penserra Capital Management LLC raised its holdings in Imax by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 2,376 shares of the company’s stock worth $53,000 after purchasing an additional 792 shares during the period. Hedge funds and other institutional investors 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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