Victory Capital Management Inc. Buys 127,371 Shares of IMAX Co. (NYSE:IMAX)

Victory Capital Management Inc. boosted its position in IMAX Co. (NYSE:IMAX - Free Report) by 9.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,420,592 shares of the company's stock after acquiring an additional 127,371 shares during the quarter. Victory Capital Management Inc. owned 2.70% of IMAX worth $29,136,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in IMAX during the second quarter worth about $35,000. nVerses Capital LLC acquired a new position in IMAX during the 3rd quarter worth approximately $70,000. Summit Securities Group LLC bought a new position in IMAX in the 2nd quarter valued at approximately $80,000. Laurus Investment Counsel Inc. acquired a new stake in IMAX in the second quarter valued at approximately $150,000. Finally, US Bancorp DE grew its stake in shares of IMAX by 23.4% during the third 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 last quarter. 93.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on IMAX shares. Seaport Res Ptn raised IMAX to a "strong-buy" rating in a report on Wednesday, July 24th. StockNews.com upgraded IMAX from a "hold" rating to a "buy" rating in a research report on Thursday, November 7th. Wedbush boosted their price target on IMAX from $24.00 to $26.00 and gave the stock an "outperform" rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. raised their price objective on shares of IMAX from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Monday, October 14th. Finally, Barrington Research reissued an "outperform" rating and set a $24.00 target price on shares of IMAX in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.22.

IMAX Price Performance

Shares of IMAX traded up $0.15 during trading hours on Monday, hitting $24.36. 308,944 shares of the stock were exchanged, compared to its average volume of 765,486. IMAX Co. has a fifty-two week low of $13.20 and a fifty-two week high of $25.28. The business has a 50-day moving average of $21.44 and a 200-day moving average of $19.30. The firm has a market capitalization of $1.28 billion, a P/E ratio of 55.36, a price-to-earnings-growth ratio of 1.59 and a beta of 1.22.

IMAX (NYSE:IMAX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 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 business had revenue of $91.50 million for the quarter, compared to analysts' expectations of $93.71 million. The business's quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 earnings per share. As a group, analysts forecast 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.