Pier Capital LLC Has $12.26 Million Stake in IMAX Co. (NYSE:IMAX)

Pier Capital LLC boosted its holdings in IMAX Co. (NYSE:IMAX - Free Report) by 132.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 478,760 shares of the company's stock after buying an additional 272,949 shares during the period. IMAX accounts for approximately 1.7% of Pier Capital LLC's holdings, making the stock its 2nd biggest position. Pier Capital LLC owned about 0.91% of IMAX worth $12,256,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC boosted its position in shares of IMAX by 108.4% during the third quarter. FMR LLC now owns 3,949,643 shares of the company's stock worth $81,007,000 after acquiring an additional 2,054,031 shares during the last quarter. Vanguard Group Inc. lifted its stake in IMAX by 11.0% in the 4th quarter. Vanguard Group Inc. now owns 612,115 shares of the company's stock worth $15,670,000 after purchasing an additional 60,762 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of IMAX during the 4th quarter valued at about $9,143,000. Lord Abbett & CO. LLC purchased a new position in shares of IMAX during the third quarter valued at about $6,322,000. Finally, Castleark Management LLC bought a new stake in shares of IMAX in the third quarter worth about $5,199,000. 93.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on IMAX shares. StockNews.com cut IMAX from a "buy" rating to a "hold" rating in a report on Thursday. Rosenblatt Securities boosted their price target on shares of IMAX from $28.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Macquarie upped their price target on shares of IMAX from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Benchmark reissued a "buy" rating and issued a $30.00 price objective on shares of IMAX in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. increased their price target on shares of IMAX from $25.00 to $27.00 and gave the company a "neutral" rating in a report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $30.67.

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IMAX Stock Down 3.5 %

NYSE:IMAX traded down $0.95 during mid-day trading on Friday, hitting $26.08. 1,041,805 shares of the stock traded hands, compared to its average volume of 719,400. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 53.23, a PEG ratio of 1.49 and a beta of 1.22. IMAX Co. has a 52 week low of $14.94 and a 52 week high of $27.77. The firm's 50 day moving average is $25.23 and its two-hundred day moving average is $23.84.

IMAX (NYSE:IMAX - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.17 EPS 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 business had revenue of $92.67 million for the quarter, compared to the consensus estimate of $104.08 million. As a group, research analysts predict that IMAX Co. will post 0.91 EPS for the current year.

About IMAX

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.