IMAX Co. (NYSE:IMAX) Short Interest Update

IMAX Co. (NYSE:IMAX - Get Free Report) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 4,770,000 shares, a drop of 5.9% from the October 15th total of 5,070,000 shares. Currently, 11.3% of the company's shares are short sold. Based on an average daily trading volume, of 641,200 shares, the days-to-cover ratio is currently 7.4 days.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IMAX. StockNews.com raised IMAX from a "hold" rating to a "buy" rating in a research report on Thursday, November 7th. Barrington Research reaffirmed an "outperform" rating and set a $24.00 price objective on shares of IMAX in a report on Thursday, October 31st. Seaport Res Ptn upgraded IMAX to a "strong-buy" rating in a research report on Wednesday, July 24th. Roth Mkm boosted their target price on IMAX from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $28.00 price target on shares of IMAX in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $24.22.

Institutional Trading of IMAX

A number of hedge funds have recently modified their holdings of IMAX. FMR LLC raised its position in IMAX by 108.4% in the third quarter. FMR LLC now owns 3,949,643 shares of the company's stock worth $81,007,000 after purchasing an additional 2,054,031 shares in the last quarter. Royce & Associates LP boosted its holdings in IMAX by 3.1% in the 3rd quarter. Royce & Associates LP now owns 1,822,616 shares of the company's stock valued at $37,382,000 after purchasing an additional 54,850 shares during the period. Victory Capital Management Inc. increased its stake in IMAX by 9.8% in the third quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company's stock valued at $29,136,000 after acquiring an additional 127,371 shares during the last quarter. Private Capital Management LLC raised its position in IMAX by 10.0% during the 1st quarter. Private Capital Management LLC now owns 1,304,364 shares of the company's stock worth $21,092,000 after purchasing an additional 118,649 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of IMAX by 5.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company's stock valued at $13,740,000 after buying an additional 42,952 shares during the period. Hedge funds and other institutional investors own 93.51% of the company's stock.

IMAX Stock Performance

Shares of IMAX stock traded up $0.14 during trading hours on Monday, reaching $24.35. The company had a trading volume of 308,676 shares, compared to its average volume of 765,485. The stock's fifty day simple moving average is $21.37 and its 200 day simple moving average is $19.24. The company has a market capitalization of $1.28 billion, a P/E ratio of 55.00, a price-to-earnings-growth ratio of 1.59 and a beta of 1.22. IMAX has a twelve month low of $13.20 and a twelve month high of $25.28.

IMAX (NYSE:IMAX - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $93.71 million. During the same period in the previous year, the business posted $0.27 EPS. IMAX's revenue was down 11.9% on a year-over-year basis. As a group, equities analysts expect that IMAX will post 0.76 earnings per share 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.