Primecap Management Co. CA lowered its position in shares of IMAX Co. (NYSE:IMAX - Free Report) by 9.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 842,000 shares of the company's stock after selling 83,700 shares during the period. Primecap Management Co. CA owned about 1.60% of IMAX worth $21,555,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in IMAX by 69.3% during the 4th quarter. Principal Financial Group Inc. now owns 103,946 shares of the company's stock worth $2,661,000 after purchasing an additional 42,562 shares during the period. Savant Capital LLC purchased a new stake in shares of IMAX in the fourth quarter valued at about $249,000. Quantbot Technologies LP acquired a new stake in shares of IMAX during the third quarter worth about $777,000. Lord Abbett & CO. LLC purchased a new position in shares of IMAX during the third quarter worth about $6,322,000. Finally, SG Americas Securities LLC acquired a new position in IMAX in the 4th quarter valued at about $333,000. 93.51% of the stock is owned by hedge funds and other institutional investors.
IMAX Trading Up 1.1 %
Shares of NYSE:IMAX traded up $0.31 during trading on Monday, hitting $27.06. 861,767 shares of the stock were exchanged, compared to its average volume of 704,577. IMAX Co. has a 12-month low of $14.94 and a 12-month high of $27.77. The company has a market cap of $1.43 billion, a PE ratio of 55.22, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a fifty day moving average price of $24.83 and a two-hundred day moving average price of $23.66.
IMAX (NYSE:IMAX - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.14). IMAX had a return on equity of 8.60% and a net margin of 7.40%. The firm had revenue of $92.67 million for the quarter, compared to analysts' expectations of $104.08 million. Equities research analysts anticipate that IMAX Co. will post 0.91 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the company. Wedbush reaffirmed an "outperform" rating and set a $32.00 price objective on shares of IMAX in a research report on Thursday, February 20th. Macquarie lifted their price objective on shares of IMAX from $28.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Rosenblatt Securities upped their price objective on shares of IMAX from $28.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on shares of IMAX from $25.00 to $27.00 and gave the company a "neutral" rating in a report on Friday, February 21st. Finally, Barrington Research increased their price target on shares of IMAX from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, IMAX currently has a consensus rating of "Buy" and a consensus price target of $30.67.
View Our Latest Stock Report on IMAX
About IMAX
(
Free Report)
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.
Featured Articles
Before you consider IMAX, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IMAX wasn't on the list.
While IMAX currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
