Systematic Financial Management LP Makes New Investment in IMAX Co. (NYSE:IMAX)

Systematic Financial Management LP bought a new stake in IMAX Co. (NYSE:IMAX - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 40,841 shares of the company's stock, valued at approximately $838,000. Systematic Financial Management LP owned approximately 0.08% of IMAX as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IMAX. FMR LLC lifted its stake in IMAX by 108.4% in the third quarter. FMR LLC now owns 3,949,643 shares of the company's stock valued at $81,007,000 after buying an additional 2,054,031 shares during the period. Victory Capital Management Inc. raised its holdings in shares of IMAX by 33.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company's stock worth $21,687,000 after purchasing an additional 321,506 shares during the period. Bank of New York Mellon Corp raised its stake in IMAX by 90.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company's stock valued at $9,856,000 after acquiring an additional 279,410 shares during the period. Mizuho Markets Americas LLC lifted its position in shares of IMAX by 47.5% during the third quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company's stock worth $7,952,000 after acquiring an additional 124,811 shares in the last quarter. Finally, Pembroke Management LTD boosted its stake in IMAX by 35.2% in the 2nd quarter. Pembroke Management LTD now owns 474,761 shares of the company's stock worth $7,962,000 after purchasing an additional 123,648 shares during the period. Institutional investors own 93.51% of the company's stock.

IMAX Stock Performance

Shares of IMAX stock traded down $0.37 during midday trading on Friday, reaching $25.85. 260,738 shares of the company's stock traded hands, compared to its average volume of 550,553. The company has a market cap of $1.36 billion, a PE ratio of 58.75, a price-to-earnings-growth ratio of 1.66 and a beta of 1.23. The stock has a 50 day moving average of $22.94 and a 200-day moving average of $20.11. IMAX Co. has a 12 month low of $13.20 and a 12 month high of $26.84.

IMAX (NYSE:IMAX - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The firm had revenue of $91.50 million during the quarter, compared to analysts' expectations of $93.71 million. During the same period last year, the company posted $0.27 EPS. The company's quarterly revenue was down 11.9% compared to the same quarter last year. On average, equities analysts anticipate that IMAX Co. will post 0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wedbush restated an "outperform" rating on shares of IMAX in a research report on Wednesday, November 27th. Roth Mkm upped their price objective on shares of IMAX from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. StockNews.com cut shares of IMAX from a "buy" rating to a "hold" rating in a research report on Friday, November 29th. Rosenblatt Securities reaffirmed a "buy" rating and set a $28.00 price objective on shares of IMAX in a research note on Thursday, October 31st. Finally, Barrington Research reissued an "outperform" rating and set a $24.00 price objective on shares of IMAX in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.22.

IMAX Company Profile

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.