Wedbush Reaffirms “Outperform” Rating for IMAX (NYSE:IMAX)

Wedbush restated their outperform rating on shares of IMAX (NYSE:IMAX) in a research report report published on Wednesday morning, Marketbeat reports. Wedbush currently has a $32.00 price objective on the stock. 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.

Other analysts have also issued research reports about the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 price target on shares of IMAX in a research report on Thursday, January 16th. Barrington Research restated an “outperform” rating and issued a $30.00 price target on shares of IMAX in a research note on Friday, January 10th. StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. 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 note on Thursday, January 30th. Finally, Roth Mkm boosted their price target on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $28.63.

IMAX Price Performance

IMAX opened at $27.00 on Wednesday. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 61.36, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22. The company’s 50 day simple moving average is $24.55 and its two-hundred day simple moving average is $22.79. IMAX has a 1-year low of $14.48 and a 1-year high of $27.29.

Insider Activity at IMAX

In other news, CFO Natasha Fernandes sold 2,957 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.52, for a total value of $75,462.64. Following the completion of the sale, the chief financial officer now owns 14,883 shares of the company’s stock, valued at $379,814.16. This represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 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 sale, the insider now directly owns 25,139 shares of the company’s stock, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,176 shares of company stock valued at $1,662,110. Company insiders own 24.08% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IMAX. Janney Montgomery Scott LLC increased its stake in IMAX by 1.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock valued at $747,000 after buying an additional 533 shares during the period. Blue Trust Inc. boosted its holdings in shares of IMAX by 138.5% during the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after buying an additional 561 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of IMAX by 3.4% during the 4th quarter. MetLife Investment Management LLC now owns 25,918 shares of the company’s stock worth $664,000 after buying an additional 848 shares during the period. US Bancorp DE boosted its holdings in shares of IMAX by 23.4% during the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company’s stock worth $157,000 after buying an additional 1,452 shares during the period. Finally, State of Tennessee Department of Treasury raised its stake in IMAX by 19.8% during the 4th 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 last quarter. 93.51% of the stock is currently owned by institutional investors.

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.