iMedia Brands (NASDAQ:IMBI) Upgraded to Buy by B. Riley

B. Riley upgraded shares of iMedia Brands (NASDAQ:IMBIGet Rating) from a neutral rating to a buy rating in a research report released on Thursday, The Fly reports. They currently have $5.00 target price on the stock.

A number of other analysts have also recently weighed in on IMBI. Lake Street Capital lowered their price objective on iMedia Brands from $9.00 to $3.00 in a research report on Thursday, August 25th. DA Davidson dropped their price target on iMedia Brands from $22.00 to $11.00 and set a buy rating on the stock in a research note on Thursday, June 16th. Finally, Craig Hallum decreased their price objective on shares of iMedia Brands from $20.00 to $7.00 in a research report on Thursday, August 25th.

iMedia Brands Price Performance

Shares of NASDAQ:IMBI opened at $0.90 on Thursday. The business’s fifty day simple moving average is $1.29 and its 200-day simple moving average is $2.84. iMedia Brands has a 12-month low of $0.82 and a 12-month high of $8.17. The company has a current ratio of 1.36, a quick ratio of 0.72 and a debt-to-equity ratio of 4.53.

iMedia Brands (NASDAQ:IMBIGet Rating) last issued its quarterly earnings data on Wednesday, August 24th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.07). iMedia Brands had a negative return on equity of 52.27% and a negative net margin of 6.13%. During the same quarter in the previous year, the company posted ($0.22) earnings per share. On average, analysts expect that iMedia Brands will post -1.06 earnings per share for the current year.

Institutional Trading of iMedia Brands

Several large investors have recently added to or reduced their stakes in the company. Royce & Associates LP boosted its position in iMedia Brands by 32.1% in the first quarter. Royce & Associates LP now owns 989,228 shares of the company’s stock valued at $5,965,000 after buying an additional 240,454 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of iMedia Brands by 407.1% in the 2nd quarter. D.A. Davidson & CO. now owns 109,111 shares of the company’s stock valued at $132,000 after acquiring an additional 87,593 shares during the last quarter. Cooper Creek Partners Management LLC increased its stake in shares of iMedia Brands by 6.6% in the fourth quarter. Cooper Creek Partners Management LLC now owns 990,111 shares of the company’s stock worth $5,941,000 after acquiring an additional 61,114 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of iMedia Brands by 11.0% during the first quarter. Russell Investments Group Ltd. now owns 279,315 shares of the company’s stock worth $1,683,000 after purchasing an additional 27,742 shares during the last quarter. Finally, Boston Partners lifted its position in 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 period. Hedge funds and other institutional investors own 39.68% of the company’s stock.

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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