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IMedia Brands (NASDAQ:IMBI) Price Target Cut to $2.00

Financial News Live ·  11/27/2022 15:51

iMedia Brands (NASDAQ:IMBI – Get Rating) had its price target reduced by Lake Street Capital from $3.00 to $2.00 in a report published on Wednesday, The Fly reports.

Other equities research analysts also recently issued research reports about the stock. Craig Hallum decreased their target price on shares of iMedia Brands from $20.00 to $7.00 in a research note on Thursday, August 25th. B. Riley raised iMedia Brands from a neutral rating to a buy rating and set a $5.00 target price for the company in a research note on Thursday, September 15th.

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iMedia Brands Price Performance

IMBI stock opened at $0.58 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 0.75 and a debt-to-equity ratio of 4.53. The company has a market capitalization of $13.54 million, a P/E ratio of -0.30 and a beta of 2.02. The business has a 50 day simple moving average of $0.58 and a 200-day simple moving average of $1.14. iMedia Brands has a twelve month low of $0.44 and a twelve month high of $7.74.

iMedia Brands (NASDAQ:IMBI – Get Rating) last issued its quarterly earnings results on Wednesday, August 24th. The company reported ($0.41) earnings per share for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.06). The business had revenue of $133.23 million for the quarter, compared to analyst estimates of $156.65 million. iMedia Brands had a negative return on equity of 75.94% and a negative net margin of 8.16%. During the same quarter in the prior year, the company earned ($0.22) EPS. As a group, equities analysts anticipate that iMedia Brands will post -1.06 EPS for the current year.

Institutional Investors Weigh In On iMedia Brands

A number of hedge funds and other institutional investors have recently modified their holdings of IMBI. Royce & Associates LP boosted its position in iMedia Brands by 32.8% during the third quarter. Royce & Associates LP now owns 1,312,947 shares of the company's stock worth $840,000 after purchasing an additional 324,537 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of iMedia Brands by 11.0% during the 1st quarter. Russell Investments Group Ltd. now owns 279,315 shares of the company's stock worth $1,683,000 after buying an additional 27,742 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of iMedia Brands by 44.5% during the 3rd quarter. D.A. Davidson & CO. now owns 157,699 shares of the company's stock worth $101,000 after buying an additional 48,588 shares during the last quarter. Boston Partners boosted its position in shares of iMedia Brands by 27.4% in the 1st quarter. Boston Partners now owns 105,220 shares of the company's stock worth $634,000 after buying an additional 22,654 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in iMedia Brands by 15.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 96,688 shares of the company's stock valued at $583,000 after acquiring an additional 12,663 shares during the last quarter. 39.68% of the stock is currently owned by institutional investors and hedge funds.

About iMedia Brands

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iMedia Brands, Inc operates as an interactive media company in the United States and internationally. It operates through three segments: Entertainment, Consumer Brands, and Media Commerce Services. The company operates television networks, including ShopHQ that offers jewelry and watches, home, beauty and health, and fashion and accessories; ShopBulldogTV, which provides male-oriented products and services; ShopHQHealth that offers women and men products and services focused on health and wellness categories, such as physical, mental and spiritual health, financial and motivational wellness, weight management, and telehealth medical services; ShopJewelryHQ for jewelry products and services; and 1-2-3.tv, a retailing marketplace for live and automated auctions.

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