IMAX Corporation (NYSE:IMAX) Stock Has Consensus Target Price of $57.38

IMAX Corporation (NYSE:IMAX) has received an average rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $58.15.

Several equities research analysts have recently weighed in on the company. Barrington Research upped their target price on IMAX from $46.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. HC Wainwright reissued a “buy” rating on shares of IMAX in a research report on Friday, July 24th. Wall Street Zen upgraded IMAX from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Weiss Ratings upgraded IMAX from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, The Goldman Sachs Group increased their price objective on shares of IMAX from $42.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, September 4th.

Insider Activity

In related news, CFO Natasha Fernandes sold 20,000 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $54.63, for a total transaction of $1,092,600.00. Following the completion of the sale, the chief financial officer directly owned 35,596 shares of the company’s stock, valued at approximately $1,944,609.48. This trade represents a 35.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert Lister sold 22,500 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $51.58, for a total transaction of $1,160,550.00. Following the sale, the vice president directly owned 182,375 shares of the company’s stock, valued at approximately $9,406,902.50. The trade was a 10.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 507,257 shares of company stock valued at $26,673,571 over the last ninety days. 20.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On IMAX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its stake in shares of IMAX by 838.9% during the third quarter. Sterling Capital Management LLC now owns 1,521 shares of the company’s stock valued at $83,000 after acquiring an additional 1,359 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of IMAX in the 2nd quarter valued at approximately $85,000. Nykredit A S acquired a new position in shares of IMAX in the 2nd quarter valued at approximately $105,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of IMAX by 159.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,006 shares of the company’s stock valued at $111,000 after buying an additional 1,849 shares during the last quarter. Finally, Stronghold Wealth Management L.L.C. purchased a new position in shares of IMAX during the 3rd quarter valued at approximately $200,000. 93.51% of the stock is owned by hedge funds and other institutional investors.

IMAX Trading Up 0.8%

IMAX opened at $52.48 on Wednesday. IMAX has a 52-week low of $31.27 and a 52-week high of $57.73. The company has a 50 day moving average of $52.59 and a two-hundred day moving average of $42.62.

IMAX Company Profile

IMAX Corporation (NYSE: IMAX) is a global entertainment technology company that specializes in premium large-format cinema experiences. The company designs and supplies specialized theater systems that combine large screens, high-resolution projection, advanced sound, and immersive theater design to present feature films, documentaries, live events, and other content.

IMAX supports its theater partners with projection and sound equipment, theater design and installation services, and technology and maintenance support.