iMedia Brands (NASDAQ:IMBI) Price Target Lowered to $2.00 at Lake Street Capital

iMedia Brands (NASDAQ:IMBIGet Rating) had its price objective reduced by analysts at Lake Street Capital from $3.00 to $2.00 in a research note issued on Wednesday, The Fly reports. Lake Street Capital’s target price points to a potential upside of 229.60% from the company’s current price.

IMBI has been the topic of a number of other research reports. Craig Hallum cut 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 shares of iMedia Brands from a “neutral” rating to a “buy” rating and set a $5.00 target price for the company in a report on Thursday, September 15th.

iMedia Brands Stock Performance

Shares of IMBI opened at $0.61 on Wednesday. The firm’s 50-day moving average price is $0.59 and its 200-day moving average price is $1.17. The company has a quick ratio of 0.75, a current ratio of 1.36 and a debt-to-equity ratio of 4.53. iMedia Brands has a 1-year low of $0.44 and a 1-year high of $7.74.

iMedia Brands (NASDAQ:IMBIGet Rating) last announced its 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 company had revenue of $133.23 million for the quarter, compared to the consensus estimate of $156.65 million. iMedia Brands had a negative net margin of 8.16% and a negative return on equity of 75.94%. During the same period in the previous year, the firm posted ($0.22) EPS. As a group, equities analysts expect that iMedia Brands will post -1.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IMBI. Russell Investments Group Ltd. raised its holdings in iMedia Brands by 11.0% in the first 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. Royce & Associates LP raised its holdings in shares of iMedia Brands by 32.1% during the first quarter. Royce & Associates LP now owns 989,228 shares of the company’s stock valued at $5,965,000 after purchasing an additional 240,454 shares during the last quarter. Boston Partners raised its holdings in shares of iMedia Brands by 27.4% during the first quarter. Boston Partners now owns 105,220 shares of the company’s stock valued at $634,000 after purchasing an additional 22,654 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of iMedia Brands during the first quarter valued at approximately $96,000. Finally, D.A. Davidson & CO. raised its holdings in shares of iMedia Brands by 22.8% during the first quarter. D.A. Davidson & CO. now owns 21,518 shares of the company’s stock valued at $130,000 after purchasing an additional 4,000 shares during the last quarter. 39.68% of the stock is owned by hedge funds and other institutional investors.

iMedia Brands Company Profile

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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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