Foundry Partners LLC Buys 39,095 Shares of IMAX Co. (NYSE:IMAX)

Foundry Partners LLC lifted its stake in IMAX Co. (NYSE:IMAX - Free Report) by 21.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,295 shares of the company's stock after purchasing an additional 39,095 shares during the quarter. Foundry Partners LLC owned 0.42% of IMAX worth $4,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Huntington National Bank purchased a new position in shares of IMAX in the third quarter worth $34,000. Headlands Technologies LLC purchased a new position in IMAX in the 2nd quarter worth about $35,000. nVerses Capital LLC bought a new position in IMAX during the 3rd quarter valued at about $70,000. Summit Securities Group LLC purchased a new stake in shares of IMAX during the 2nd quarter valued at about $80,000. Finally, Laurus Investment Counsel Inc. bought a new stake in shares of IMAX in the second quarter worth approximately $150,000. Institutional investors own 93.51% of the company's stock.

IMAX Stock Up 1.9 %

NYSE:IMAX traded up $0.48 during trading hours on Friday, hitting $25.19. 621,620 shares of the stock traded hands, compared to its average volume of 760,870. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 57.25, a price-to-earnings-growth ratio of 1.63 and a beta of 1.22. IMAX Co. has a 1 year low of $13.20 and a 1 year high of $25.51. The stock has a 50 day moving average price of $21.77 and a 200 day moving average price of $19.49.

IMAX (NYSE:IMAX - Get Free Report) last released its earnings results 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. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The company had revenue of $91.50 million for the quarter, compared to analysts' expectations of $93.71 million. During the same quarter in the previous year, the company earned $0.27 EPS. IMAX's revenue for the quarter was down 11.9% on a year-over-year basis. Equities analysts forecast that IMAX Co. will post 0.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. StockNews.com downgraded shares of IMAX from a "buy" rating to a "hold" rating in a research report on Thursday. Rosenblatt Securities restated a "buy" rating and issued a $28.00 price target on shares of IMAX in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on IMAX from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Monday, October 14th. Barrington Research reissued an "outperform" rating and issued a $24.00 target price on shares of IMAX in a research report on Thursday, October 31st. Finally, Wedbush upped their price target on shares of IMAX from $24.00 to $26.00 and gave the company an "outperform" rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $24.22.

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.