iMedia Brands (NASDAQ:IMBI) Posts Earnings Results, Misses Estimates By $0.07 EPS

iMedia Brands (NASDAQ:IMBIGet Rating) issued its quarterly earnings results on Tuesday. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.07), MarketWatch Earnings reports. iMedia Brands had a negative net margin of 3.99% and a negative return on equity of 29.29%. During the same period in the previous year, the firm posted ($0.21) EPS. iMedia Brands updated its Q2 2022 guidance to EPS.

NASDAQ:IMBI opened at $1.77 on Thursday. The firm has a market cap of $38.59 million, a price-to-earnings ratio of -1.61 and a beta of 1.84. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.76 and a current ratio of 1.40. The business’s fifty day moving average is $4.28 and its 200 day moving average is $5.56. iMedia Brands has a 52-week low of $1.63 and a 52-week high of $10.48.

IMBI has been the topic of a number of recent research reports. Craig Hallum dropped their price target on iMedia Brands from $20.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday. Zacks Investment Research lowered iMedia Brands from a “buy” rating to a “hold” rating in a research note on Friday, March 25th. B. Riley decreased their price objective on iMedia Brands from $22.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, DA Davidson decreased their price objective on iMedia Brands from $37.00 to $22.00 and set a “na” rating on the stock in a research note on Tuesday, May 17th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, iMedia Brands currently has a consensus rating of “Buy” and a consensus price target of $12.55.

In other iMedia Brands news, Director Eyal Lalo bought 390,880 shares of the firm’s stock in a transaction on Wednesday, May 11th. The shares were acquired at an average cost of $3.07 per share, for a total transaction of $1,200,001.60. Following the purchase, the director now directly owns 2,223,317 shares of the company’s stock, valued at $6,825,583.19. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Tim Peterman acquired 32,573 shares of iMedia Brands stock in a transaction dated Wednesday, May 11th. The shares were purchased at an average price of $3.07 per share, for a total transaction of $99,999.11. Following the completion of the transaction, the chief executive officer now directly owns 622,789 shares in the company, valued at approximately $1,911,962.23. The disclosure for this purchase can be found here. 21.43% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC bought a new position in shares of iMedia Brands during the 1st quarter valued at about $96,000. Morgan Stanley increased its position in shares of 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 last quarter. D.A. Davidson & CO. increased its position in shares of iMedia Brands by 22.8% during the 1st 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. Millennium Management LLC purchased a new stake in iMedia Brands during the 4th quarter valued at about $244,000. Finally, State Street Corp boosted its holdings in iMedia Brands by 18.9% during the 4th 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 period. Hedge funds and other institutional investors own 33.92% of the company’s stock.

About iMedia Brands (Get Rating)

iMedia Brands, Inc operates as a multiplatform interactive video and digital commerce company in the United States. It operates through two segments, ShopHQ and Emerging. The company markets, sells, and distributes products to consumers through television, website, mobile, social media, and over-the-top platforms in various merchandise categories, such as jewelry and watches, which include silver, gold, and gemstones to simulated diamonds; home and consumer electronics comprising home décor, cookware, kitchen electrics, tabletop accessories, and home furnishings; beauty and wellness products, such as skincare, cosmetics, hair care, and bath and body products; and fashion and accessories, including apparel, outerwear, intimates, handbags, accessories, and footwear.

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Earnings History for iMedia Brands (NASDAQ:IMBI)

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