Raymond James Financial Inc. acquired a new position in shares of IMAX Co. (NYSE:IMAX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 357,140 shares of the company's stock, valued at approximately $9,143,000. Raymond James Financial Inc. owned approximately 0.68% of IMAX at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Blue Trust Inc. boosted its stake in shares of IMAX by 138.5% during the 4th quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after purchasing an additional 561 shares during the last quarter. Quarry LP lifted its stake in shares of IMAX by 78,333.3% during the 3rd quarter. Quarry LP now owns 2,353 shares of the company's stock worth $48,000 after purchasing an additional 2,350 shares during the period. Intech Investment Management LLC purchased a new stake in shares of IMAX in the third quarter valued at $205,000. Cornerstone Investment Partners LLC acquired a new position in IMAX in the fourth quarter valued at $248,000. Finally, Savant Capital LLC purchased a new position in IMAX during the fourth quarter worth about $249,000. Hedge funds and other institutional investors own 93.51% of the company's stock.
Analyst Upgrades and Downgrades
IMAX has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of IMAX from $26.00 to $32.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Wedbush reissued an "outperform" rating and set a $32.00 price objective on shares of IMAX in a research note on Thursday, February 20th. Macquarie lifted their target price on IMAX from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their price target on IMAX from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Friday, February 21st. Finally, Barrington Research lifted their price objective on IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, IMAX presently has an average rating of "Buy" and an average target price of $30.67.
Check Out Our Latest Report on IMAX
IMAX Price Performance
NYSE IMAX traded up $0.21 on Tuesday, reaching $27.20. The company had a trading volume of 1,060,050 shares, compared to its average volume of 704,580. IMAX Co. has a 1 year low of $14.94 and a 1 year high of $27.77. The firm has a 50-day moving average of $24.91 and a 200-day moving average of $23.70. The firm has a market capitalization of $1.44 billion, a PE ratio of 55.51, a P/E/G ratio of 1.49 and a beta of 1.22.
IMAX (NYSE:IMAX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.14). IMAX had a net margin of 7.40% and a return on equity of 8.60%. The firm had revenue of $92.67 million during the quarter, compared to analysts' expectations of $104.08 million. As a group, sell-side analysts expect that IMAX Co. will post 0.91 EPS for the current fiscal year.
IMAX Company Profile
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Free Report)
IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.
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