Peregrine Capital Management LLC Has $7.02 Million Stake in IMAX Co. (NYSE:IMAX)

Peregrine Capital Management LLC lessened its position in shares of IMAX Co. (NYSE:IMAX - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 274,205 shares of the company's stock after selling 9,830 shares during the period. Peregrine Capital Management LLC owned about 0.52% of IMAX worth $7,020,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in IMAX. FMR LLC increased its holdings in IMAX by 108.4% during the 3rd quarter. FMR LLC now owns 3,949,643 shares of the company's stock worth $81,007,000 after purchasing an additional 2,054,031 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of IMAX during the 3rd quarter worth about $6,322,000. Castleark Management LLC acquired a new position in shares of IMAX during the 3rd quarter worth about $5,199,000. Pier Capital LLC acquired a new position in shares of IMAX during the 3rd quarter worth about $4,221,000. Finally, Victory Capital Management Inc. boosted its stake in shares of 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 last quarter. Institutional investors own 93.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IMAX. JPMorgan Chase & Co. increased their price objective on shares of IMAX from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Friday. Rosenblatt Securities raised their target price on shares of IMAX from $28.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday. StockNews.com downgraded shares of IMAX from a "buy" rating to a "hold" rating in a research note on Thursday, February 13th. Barrington Research raised their target price on shares of IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Macquarie raised their price objective on shares of IMAX from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $30.67.

IMAX Price Performance

NYSE:IMAX traded down $0.91 during mid-day trading on Friday, reaching $26.03. The stock had a trading volume of 1,170,438 shares, compared to its average volume of 707,780. The stock has a 50-day simple moving average of $24.65 and a two-hundred day simple moving average of $23.00. The stock has a market capitalization of $1.38 billion, a PE ratio of 53.11, a P/E/G ratio of 1.49 and a beta of 1.22. IMAX Co. has a 12 month low of $14.94 and a 12 month high of $27.77.

IMAX (NYSE:IMAX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.14). The firm had revenue of $92.67 million during the quarter, compared to the consensus estimate of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. Equities analysts expect that IMAX Co. will post 0.91 EPS for the current year.

Insider Buying and Selling at IMAX

In other news, insider Kenneth Ian Weissman sold 6,309 shares of IMAX stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.51, for a total transaction of $160,942.59. Following the transaction, the insider now owns 25,139 shares in the company, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Natasha Fernandes sold 2,957 shares of IMAX stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the transaction, the chief financial officer now owns 14,883 shares in the company, valued at approximately $379,814.16. This trade represents a 16.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,176 shares of company stock worth $1,662,110 over the last quarter. Corporate insiders own 24.08% of the company's stock.

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.