JPMorgan Chase & Co. started coverage on shares of Imax (NYSE:IMAX) in a research report report published on Tuesday, February 20th, Marketbeat.com reports. The firm issued an overweight rating and a $28.00 target price on the stock.
A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Imax from a hold rating to a sell rating in a report on Tuesday, January 9th. Wedbush set a $30.00 price objective on shares of Imax and gave the company a buy rating in a report on Monday, January 8th. B. Riley reiterated a buy rating and issued a $35.00 price objective on shares of Imax in a report on Monday, December 11th. ValuEngine downgraded shares of Imax from a hold rating to a sell rating in a report on Friday, February 2nd. Finally, Canaccord Genuity set a $32.00 price objective on shares of Imax and gave the company a buy rating in a report on Monday, October 23rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. Imax has an average rating of Hold and a consensus price target of $28.63.
Shares of Imax (NYSE IMAX) traded up $0.50 during mid-day trading on Tuesday, reaching $21.15. 1,220,000 shares of the company’s stock traded hands, compared to its average volume of 1,060,000. Imax has a 52-week low of $17.58 and a 52-week high of $34.60. The firm has a market cap of $1,370.00, a P/E ratio of 117.50, a P/E/G ratio of 1.56 and a beta of 0.82.
In other Imax news, CFO Patrick Mcclymont sold 2,811 shares of Imax stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $20.40, for a total transaction of $57,344.40. Following the completion of the transaction, the chief financial officer now directly owns 2,145 shares of the company’s stock, valued at $43,758. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert D. Lister sold 3,518 shares of Imax stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $22.95, for a total transaction of $80,738.10. Following the transaction, the insider now directly owns 38,540 shares of the company’s stock, valued at $884,493. The disclosure for this sale can be found here. Insiders sold 24,131 shares of company stock valued at $501,243 over the last three months. 18.90% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Crow Point Partners LLC bought a new position in Imax during the fourth quarter worth $103,000. Invictus RG bought a new position in Imax during the fourth quarter worth $213,000. Formula Growth Ltd. bought a new position in Imax during the third quarter worth $222,000. First Mercantile Trust Co. bought a new position in Imax during the fourth quarter worth $231,000. Finally, Foundry Partners LLC bought a new position in Imax during the fourth quarter worth $244,000. 86.01% of the stock is owned by hedge funds and other institutional investors.
Imax Company Profile
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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