Savant Capital LLC Invests $249,000 in IMAX Co. (NYSE:IMAX)

Savant Capital LLC bought a new position in shares of IMAX Co. (NYSE:IMAX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,738 shares of the company's stock, valued at approximately $249,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Janney Montgomery Scott LLC grew its position in shares of IMAX by 1.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company's stock worth $747,000 after acquiring an additional 533 shares during the last quarter. Blue Trust Inc. grew its position in IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company's stock valued at $25,000 after buying an additional 561 shares in the last quarter. US Bancorp DE grew its position in IMAX by 23.4% in the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company's stock valued at $157,000 after buying an additional 1,452 shares in the last quarter. Huntington National Bank bought a new position in IMAX in the 3rd quarter valued at about $34,000. Finally, Quarry LP grew its position in IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company's stock valued at $48,000 after buying an additional 2,350 shares in the last quarter. 93.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at IMAX

In related news, EVP Robert D. Lister sold 55,910 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the transaction, the executive vice president now owns 138,889 shares of the company's stock, valued at approximately $3,541,669.50. This trade represents a 28.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Natasha Fernandes sold 2,957 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.52, for a total value of $75,462.64. Following the transaction, the chief financial officer now owns 14,883 shares in the company, valued at approximately $379,814.16. This trade represents a 16.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,176 shares of company stock valued at $1,662,110. 24.08% of the stock is currently owned by corporate insiders.

IMAX Stock Performance

Shares of NYSE IMAX traded down $0.91 during mid-day trading on Friday, reaching $26.03. The company had a trading volume of 1,170,438 shares, compared to its average volume of 707,780. The stock has a fifty day moving average of $24.65 and a two-hundred day moving average of $23.00. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 53.11, a PEG ratio of 1.49 and a beta of 1.22. IMAX Co. has a 12-month low of $14.94 and a 12-month high of $27.77.

IMAX (NYSE:IMAX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.14). The company had revenue of $92.67 million during the quarter, compared to analysts' expectations of $104.08 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. Sell-side analysts forecast that IMAX Co. will post 0.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IMAX has been the subject of a number of recent analyst reports. Wedbush reiterated an "outperform" rating and issued a $32.00 target price on shares of IMAX in a research report on Thursday. StockNews.com lowered shares of IMAX from a "buy" rating to a "hold" rating in a research report on Thursday, February 13th. Rosenblatt Securities upped their price objective on shares of IMAX from $28.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on shares of IMAX from $25.00 to $27.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Benchmark reaffirmed a "buy" rating and set a $30.00 price objective on shares of IMAX in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $30.67.

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.