iMedia Brands (NASDAQ:IMBI) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS

iMedia Brands (NASDAQ:IMBIGet Rating) released its earnings results on Tuesday. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.07), MarketWatch Earnings reports. iMedia Brands had a negative return on equity of 29.29% and a negative net margin of 3.99%. During the same period last year, the business earned ($0.21) EPS. iMedia Brands updated its Q2 2022 guidance to EPS.

Shares of IMBI stock opened at $1.77 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.40 and a debt-to-equity ratio of 3.83. iMedia Brands has a twelve month low of $1.63 and a twelve month high of $10.48. The company has a market cap of $38.59 million, a P/E ratio of -1.61 and a beta of 1.84. The business has a fifty day simple moving average of $4.28 and a 200 day simple moving average of $5.56.

Several analysts have recently issued reports on the company. DA Davidson reduced their target price on iMedia Brands from $37.00 to $22.00 and set a “na” rating on the stock in a 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. Zacks Investment Research lowered iMedia Brands from a “buy” rating to a “hold” rating in a report on Friday, March 25th. Finally, B. Riley dropped their price objective on iMedia Brands from $22.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, iMedia Brands currently has an average rating of “Buy” and an average price target of $12.55.

In other news, Director Eyal Lalo bought 390,880 shares of the company’s stock in a transaction on Wednesday, May 11th. The stock was purchased at an average cost of $3.07 per share, for a total transaction of $1,200,001.60. Following the completion of the transaction, the director now owns 2,223,317 shares of the company’s stock, valued at $6,825,583.19. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Tim Peterman bought 32,573 shares of the company’s stock in a transaction on Wednesday, May 11th. The stock was purchased at an average price of $3.07 per share, with a total value of $99,999.11. Following the completion of the transaction, the chief executive officer now directly owns 622,789 shares of the company’s stock, 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.

Several institutional investors and hedge funds have recently modified their holdings of IMBI. Morgan Stanley raised its position in shares of iMedia Brands by 184.5% during the second quarter. Morgan Stanley now owns 11,868 shares of the company’s stock worth $96,000 after acquiring an additional 7,697 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of iMedia Brands by 369.5% during the third quarter. Dimensional Fund Advisors LP now owns 73,338 shares of the company’s stock worth $422,000 after acquiring an additional 57,716 shares during the last quarter. Geode Capital Management LLC raised its position in shares of iMedia Brands by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 127,916 shares of the company’s stock worth $767,000 after acquiring an additional 8,383 shares during the last quarter. State Street Corp raised its position in shares of iMedia Brands by 18.9% during the fourth quarter. State Street Corp now owns 44,087 shares of the company’s stock worth $265,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Millennium Management LLC bought a new position in shares of iMedia Brands during the fourth quarter worth about $244,000. 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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