iMedia Brands (NASDAQ:IMBI) Price Target Lowered to $8.00 at B. Riley

iMedia Brands (NASDAQ:IMBIGet Rating) had its price objective decreased by B. Riley from $22.00 to $8.00 in a research note issued to investors on Wednesday, The Fly reports. B. Riley currently has a buy rating on the stock. B. Riley also issued estimates for iMedia Brands’ Q2 2023 earnings at ($0.35) EPS, Q3 2023 earnings at ($0.15) EPS, Q4 2023 earnings at $0.03 EPS, FY2023 earnings at ($1.02) EPS, Q1 2024 earnings at ($0.14) EPS, Q2 2024 earnings at ($0.03) EPS, Q3 2024 earnings at $0.08 EPS, Q4 2024 earnings at $0.24 EPS and FY2024 earnings at $0.15 EPS.

IMBI has been the topic of several other reports. DA Davidson dropped their price target on shares of iMedia Brands from $37.00 to $22.00 and set a na rating on the stock in a research report on Tuesday, May 17th. Craig Hallum reduced their target price on iMedia Brands from $20.00 to $7.00 and set a buy rating on the stock in a report on Wednesday. Finally, Zacks Investment Research downgraded iMedia Brands from a buy rating to a hold rating in a report on Friday, March 25th.

iMedia Brands stock opened at $1.90 on Wednesday. The company has a market cap of $41.43 million, a price-to-earnings ratio of -1.73 and a beta of 1.84. The firm has a 50-day moving average of $4.09 and a 200-day moving average of $5.50. The company has a debt-to-equity ratio of 3.83, a current ratio of 1.40 and a quick ratio of 0.76. iMedia Brands has a one year low of $1.63 and a one year high of $10.48.

iMedia Brands (NASDAQ:IMBIGet Rating) last issued its quarterly earnings results on Tuesday, May 24th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.07). iMedia Brands had a negative net margin of 3.99% and a negative return on equity of 29.29%. During the same period last year, the firm earned ($0.21) EPS. As a group, sell-side analysts expect that iMedia Brands will post -0.67 earnings per share for the current year.

In other news, Director Eyal Lalo acquired 390,880 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The shares were bought at an average price of $3.07 per share, with a total value of $1,200,001.60. Following the acquisition, the director now directly owns 2,223,317 shares in the company, valued at approximately $6,825,583.19. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Tim Peterman acquired 32,573 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The shares were purchased at an average cost of $3.07 per share, for a total transaction of $99,999.11. Following the acquisition, the chief executive officer now owns 622,789 shares in the company, valued at $1,911,962.23. The disclosure for this purchase can be found here. Company insiders own 21.43% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in shares of iMedia Brands by 3.1% during the 4th quarter. BlackRock Inc. now owns 130,695 shares of the company’s stock valued at $784,000 after acquiring an additional 3,927 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of iMedia Brands by 22.8% in the 1st quarter. D.A. Davidson & CO. now owns 21,518 shares of the company’s stock valued at $130,000 after buying an additional 4,000 shares during the last quarter. Moors & Cabot Inc. bought a new stake in shares of iMedia Brands in the 3rd quarter valued at about $298,000. State Street Corp boosted its holdings in iMedia Brands by 18.9% in the fourth quarter. State Street Corp now owns 44,087 shares of the company’s stock valued at $265,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Morgan Stanley increased its position in iMedia Brands by 184.5% during the 2nd quarter. Morgan Stanley now owns 11,868 shares of the company’s stock valued at $96,000 after purchasing an additional 7,697 shares during the period. 33.92% of the stock is currently owned by institutional investors.

About iMedia Brands (Get Rating)

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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