Castleark Management LLC Takes $5.20 Million Position in IMAX Co. (NYSE:IMAX)

Castleark Management LLC acquired a new position in IMAX Co. (NYSE:IMAX - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 253,481 shares of the company's stock, valued at approximately $5,199,000. Castleark Management LLC owned about 0.48% of IMAX as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. US Bancorp DE grew its position in shares of IMAX by 23.4% during the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company's stock valued at $157,000 after acquiring an additional 1,452 shares during the period. Huntington National Bank acquired a new stake in IMAX in the third quarter valued at approximately $34,000. Headlands Technologies LLC purchased a new stake in shares of IMAX in the second quarter valued at approximately $35,000. Price T Rowe Associates Inc. MD raised its stake in shares of IMAX by 19.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company's stock worth $212,000 after buying an additional 2,153 shares during the period. Finally, Quarry LP lifted its position in shares of IMAX by 78,333.3% during 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. Institutional investors and hedge funds own 93.51% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IMAX. Roth Mkm upped their target price on shares of IMAX from $27.00 to $28.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Rosenblatt Securities restated a "buy" rating and issued a $28.00 price target on shares of IMAX in a research report on Thursday, October 31st. StockNews.com cut IMAX from a "buy" rating to a "hold" rating in a report on Friday, November 29th. 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. Finally, JPMorgan Chase & Co. upped their target price on IMAX from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, two have assigned 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $24.22.

IMAX Trading Down 1.4 %

IMAX traded down $0.37 on Friday, hitting $25.85. 260,738 shares of the company were exchanged, compared to its average volume of 550,553. The firm has a 50-day moving average price of $22.94 and a two-hundred day moving average price of $20.13. IMAX Co. has a twelve month low of $13.20 and a twelve month high of $26.84. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 58.75, a price-to-earnings-growth ratio of 1.66 and a beta of 1.23.

IMAX (NYSE:IMAX - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.12. The business had revenue of $91.50 million for the quarter, compared to analyst estimates of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The company's revenue was down 11.9% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS. Equities analysts expect that IMAX Co. will post 0.77 EPS for the current year.

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.