IMAX Corporation (NYSE:IMAX) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• IMAX Corporation has received a consensus rating of "Moderate Buy" from twelve research firms, with a 1-year target price averaging $34.70.
• Insider trading activity includes VP Robert D. Lister selling 20,000 shares at $32.80, reflecting an 11.02% decrease in ownership.
• Institutional investors hold 93.51% of IMAX shares, indicating strong investment support from large stakeholders.

Shares of IMAX Corporation (NYSE:IMAX - Get Free Report) have earned an average rating of "Moderate Buy" from the twelve research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $34.70.

Several analysts have issued reports on IMAX shares. Wells Fargo & Company increased their price objective on shares of IMAX from $30.00 to $34.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Benchmark increased their target price on IMAX from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Wall Street Zen upgraded IMAX from a "buy" rating to a "strong-buy" rating in a research note on Saturday. B. Riley reiterated a "buy" rating on shares of IMAX in a research note on Friday. Finally, Barrington Research increased their target price on IMAX from $32.00 to $37.00 and gave the company an "outperform" rating in a research note on Friday, September 19th.

Insider Activity at IMAX

In other news, VP Robert D. Lister sold 20,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $32.80, for a total transaction of $656,000.00. Following the completion of the transaction, the vice president directly owned 161,421 shares in the company, valued at approximately $5,294,608.80. This represents a 11.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kenneth Ian Weissman sold 15,072 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $25.65, for a total value of $386,596.80. Following the transaction, the insider owned 26,133 shares of the company's stock, valued at approximately $670,311.45. This trade represents a 36.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 23.18% of the company's stock.

Hedge Funds Weigh In On IMAX

Several large investors have recently added to or reduced their stakes in IMAX. TD Waterhouse Canada Inc. lifted its stake in IMAX by 125.0% during the second quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company's stock worth $25,000 after purchasing an additional 500 shares during the last quarter. Creative Financial Designs Inc. ADV bought a new position in IMAX during the first quarter worth $59,000. Ridgewood Investments LLC bought a new position in IMAX during the second quarter worth $62,000. Tower Research Capital LLC TRC lifted its stake in IMAX by 194.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,148 shares of the company's stock worth $116,000 after purchasing an additional 2,740 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in IMAX during the first quarter worth $202,000. 93.51% of the stock is currently owned by institutional investors.

IMAX Stock Down 2.1%

Shares of NYSE:IMAX opened at $31.19 on Friday. IMAX has a 52-week low of $19.91 and a 52-week high of $34.14. The company has a 50 day moving average of $29.56 and a two-hundred day moving average of $27.39. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 51.98, a price-to-earnings-growth ratio of 2.16 and a beta of 0.62.

IMAX (NYSE:IMAX - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.07. IMAX had a net margin of 9.04% and a return on equity of 8.62%. The company had revenue of $91.68 million during the quarter, compared to the consensus estimate of $93.04 million. During the same quarter last year, the company earned $0.18 earnings per share. IMAX's revenue for the quarter was up 3.1% on a year-over-year basis. On average, equities analysts anticipate that IMAX will post 0.91 earnings per share for the current year.

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.

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