IMAX (NYSE:IMAX) Shares Gap Down - Time to Sell?

IMAX Co. (NYSE:IMAX - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $24.86, but opened at $23.93. IMAX shares last traded at $23.69, with a volume of 243,200 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IMAX. StockNews.com raised IMAX from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Barrington Research reaffirmed an "outperform" rating and issued a $32.00 target price on shares of IMAX in a research report on Thursday, April 24th. Rosenblatt Securities reissued a "buy" rating and issued a $35.00 price target on shares of IMAX in a research note on Thursday, April 24th. Wells Fargo & Company cut their price objective on IMAX from $32.00 to $30.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, Wedbush reissued an "outperform" rating and issued a $32.00 target price on shares of IMAX in a research report on Thursday, April 17th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $30.56.

IMAX Stock Down 3.4 %

The firm's fifty day simple moving average is $24.47 and its 200-day simple moving average is $24.48. The firm has a market capitalization of $1.29 billion, a PE ratio of 48.86, a PEG ratio of 1.49 and a beta of 0.79.

IMAX (NYSE:IMAX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. IMAX had a return on equity of 8.60% and a net margin of 7.40%. The business had revenue of $86.67 million for the quarter, compared to analysts' expectations of $82.95 million. During the same period in the prior year, the firm posted $0.15 EPS. The firm's quarterly revenue was up 9.6% on a year-over-year basis. As a group, analysts predict that IMAX Co. will post 0.91 earnings per share for the current year.

Institutional Investors Weigh In On IMAX

A number of large investors have recently added to or reduced their stakes in IMAX. Blue Trust Inc. grew its holdings in shares of IMAX by 138.5% in the fourth quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after acquiring an additional 561 shares during the period. Creative Financial Designs Inc. ADV bought a new stake in shares of IMAX during the 1st quarter valued at about $59,000. Tower Research Capital LLC TRC grew its stake in shares of IMAX by 415.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company's stock valued at $185,000 after purchasing an additional 5,832 shares during the period. Wealthfront Advisers LLC bought a new position in shares of IMAX in the 4th quarter worth approximately $217,000. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of IMAX in the fourth quarter worth approximately $248,000. Institutional investors own 93.51% of the company's stock.

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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