Alliancebernstein L.P. Has $2.02 Million Stock Position in IMAX Co. (NYSE:IMAX)

Alliancebernstein L.P. boosted its holdings in IMAX Co. (NYSE:IMAX - Free Report) by 60.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 78,988 shares of the company's stock after acquiring an additional 29,848 shares during the period. Alliancebernstein L.P. owned 0.15% of IMAX worth $2,022,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new stake in shares of IMAX during the third quarter valued at $1,555,000. Lord Abbett & CO. LLC purchased a new stake in shares of IMAX during the 3rd quarter valued at $6,322,000. SG Americas Securities LLC acquired a new stake in IMAX during the fourth quarter worth about $333,000. Janney Montgomery Scott LLC raised its holdings in IMAX by 1.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company's stock valued at $747,000 after buying an additional 533 shares during the period. Finally, Hedges Asset Management LLC boosted its holdings in IMAX by 3.1% in the 4th quarter. Hedges Asset Management LLC now owns 83,600 shares of the company's stock worth $2,140,000 after acquiring an additional 2,500 shares during the period. Institutional investors and hedge funds own 93.51% of the company's stock.

IMAX Stock Up 3.2 %

NYSE:IMAX traded up $0.70 during trading hours on Friday, reaching $22.47. 1,134,183 shares of the company's stock were exchanged, compared to its average volume of 757,061. The company has a market capitalization of $1.19 billion, a P/E ratio of 45.85, a price-to-earnings-growth ratio of 1.49 and a beta of 0.91. IMAX Co. has a 12 month low of $14.94 and a 12 month high of $27.77. The business's 50-day simple moving average is $25.03 and its two-hundred day simple moving average is $24.20.

IMAX (NYSE:IMAX - Get Free Report) last announced its 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 for the quarter, compared to analyst estimates of $104.08 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. As a group, sell-side analysts anticipate that IMAX Co. will post 0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $35.00 price objective on shares of IMAX in a research report on Thursday, April 10th. Wedbush reissued an "outperform" rating and issued a $32.00 price target on shares of IMAX in a report on Thursday. JPMorgan Chase & Co. dropped their target price on IMAX from $27.00 to $26.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. StockNews.com lowered shares of IMAX from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, Barrington Research increased their price target on IMAX from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $30.56.

IMAX 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.