Mizuho Markets Americas LLC Raises Stock Position in IMAX Co. (NYSE:IMAX)

Mizuho Markets Americas LLC grew its holdings in IMAX Co. (NYSE:IMAX - Free Report) by 47.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 387,689 shares of the company's stock after purchasing an additional 124,811 shares during the period. Mizuho Markets Americas LLC owned approximately 0.74% of IMAX worth $7,952,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of IMAX. Royce & Associates LP boosted its holdings in shares of IMAX by 3.1% during the 3rd quarter. Royce & Associates LP now owns 1,822,616 shares of the company's stock valued at $37,382,000 after acquiring an additional 54,850 shares in the last quarter. Huntington National Bank acquired a new position in IMAX during the 3rd quarter worth about $34,000. Victory Capital Management Inc. lifted its holdings in IMAX by 9.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company's stock worth $29,136,000 after buying an additional 127,371 shares during the period. US Bancorp DE lifted its holdings in IMAX by 23.4% during the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company's stock worth $157,000 after buying an additional 1,452 shares during the period. Finally, nVerses Capital LLC acquired a new position in IMAX during the 3rd quarter worth about $70,000. Institutional investors own 93.51% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IMAX. Roth Mkm boosted their price objective on IMAX from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Macquarie boosted their price objective on IMAX from $24.00 to $26.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. StockNews.com raised IMAX from a "hold" rating to a "buy" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their price objective on IMAX from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $28.00 price objective on shares of IMAX in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $24.22.

IMAX Stock Performance

Shares of IMAX traded down $0.35 during midday trading on Friday, hitting $24.21. 221,712 shares of the company traded hands, compared to its average volume of 767,542. The firm has a 50 day moving average of $21.37 and a 200-day moving average of $19.20. IMAX Co. has a 52 week low of $13.20 and a 52 week high of $25.28. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 55.02, a PEG ratio of 1.59 and a beta of 1.22.

IMAX (NYSE:IMAX - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $93.71 million. During the same period in the prior year, the company earned $0.27 EPS. The business's revenue was down 11.9% compared to the same quarter last year. Sell-side analysts predict that IMAX Co. will post 0.76 earnings per share for the current fiscal year.

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.