ING Groep NV Reduces Stock Holdings in IMAX Co. (NYSE:IMAX)

ING Groep NV lessened its position in IMAX Co. (NYSE:IMAX - Free Report) by 43.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 54,641 shares of the company's stock after selling 41,808 shares during the period. ING Groep NV owned about 0.10% of IMAX worth $1,121,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Huntington National Bank bought a new position in shares of IMAX in the third quarter worth approximately $34,000. Headlands Technologies LLC bought a new position in IMAX during the second quarter valued at approximately $35,000. nVerses Capital LLC bought a new position in IMAX during the third quarter valued at approximately $70,000. Summit Securities Group LLC bought a new position in IMAX during the second quarter valued at approximately $80,000. Finally, Laurus Investment Counsel Inc. bought a new position in IMAX during the second quarter valued at approximately $150,000. Institutional investors own 93.51% of the company's stock.

IMAX Stock Up 0.5 %

Shares of IMAX stock traded up $0.12 during trading hours on Monday, reaching $24.33. 145,197 shares of the company's stock were exchanged, compared to its average volume of 764,752. IMAX Co. has a 1 year low of $13.20 and a 1 year high of $25.28. 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. The business has a fifty day moving average of $21.37 and a two-hundred day moving average of $19.24.

IMAX (NYSE:IMAX - Get Free Report) last announced its quarterly earnings data 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 quarter in the prior year, the firm posted $0.27 earnings per share. IMAX's quarterly revenue was down 11.9% on a year-over-year basis. As a group, research analysts predict that IMAX Co. will post 0.76 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.