Shares of Imax Corp (NYSE:IMAX) have received a consensus recommendation of “Hold” from the fourteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $29.75.
A number of research analysts recently issued reports on IMAX shares. Zacks Investment Research raised Imax from a “sell” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a report on Wednesday, November 1st. JPMorgan Chase & Co. raised Imax from a “neutral” rating to an “overweight” rating in a report on Friday, October 27th. Wedbush reaffirmed a “buy” rating and set a $31.00 target price on shares of Imax in a report on Friday, October 27th. B. Riley reaffirmed a “buy” rating and set a $35.00 target price on shares of Imax in a report on Monday, November 20th. Finally, ValuEngine lowered Imax from a “hold” rating to a “sell” rating in a report on Sunday, December 31st.
In related news, insider Robert D. Lister sold 3,528 shares of Imax stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $23.97, for a total value of $84,566.16. Following the transaction, the insider now owns 35,594 shares of the company’s stock, valued at approximately $853,188.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Welton sold 8,985 shares of Imax stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $25.81, for a total value of $231,902.85. Following the completion of the transaction, the insider now directly owns 16,331 shares in the company, valued at approximately $421,503.11. The disclosure for this sale can be found here. Insiders sold a total of 17,050 shares of company stock worth $425,276 in the last three months. 18.90% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of IMAX. Teachers Advisors LLC boosted its position in Imax by 2.5% during the 4th quarter. Teachers Advisors LLC now owns 104,218 shares of the company’s stock worth $2,413,000 after acquiring an additional 2,587 shares during the period. American International Group Inc. boosted its position in Imax by 8.1% during the 3rd quarter. American International Group Inc. now owns 38,684 shares of the company’s stock worth $876,000 after acquiring an additional 2,892 shares during the period. Crow Point Partners LLC acquired a new stake in Imax during the 4th quarter worth about $103,000. Legal & General Group Plc boosted its position in Imax by 25.8% during the 3rd quarter. Legal & General Group Plc now owns 26,561 shares of the company’s stock worth $601,000 after acquiring an additional 5,452 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in Imax by 5.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 99,100 shares of the company’s stock worth $2,181,000 after acquiring an additional 5,500 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.
Imax (IMAX) traded up $0.15 during trading hours on Tuesday, reaching $23.05. The company had a trading volume of 482,054 shares, compared to its average volume of 1,000,056. The firm has a market capitalization of $1,411.66, a price-to-earnings ratio of 254.47, a P/E/G ratio of 1.28 and a beta of 0.94. Imax has a 1 year low of $17.58 and a 1 year high of $34.60.
IMAX Corporation is an entertainment technology company. The Company operates through seven segments: IMAX systems; theater system maintenance; joint revenue sharing arrangements; film production and IMAX DMR; film distribution; film post-production, and other. The IMAX systems segment designs, manufactures, sells or leases IMAX theater projection system equipment.
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