Fmr LLC Increases Stock Position in IMAX Co. (NYSE:IMAX)

FMR LLC boosted its stake in IMAX Co. (NYSE:IMAX - Free Report) by 14.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,508,583 shares of the company's stock after purchasing an additional 558,940 shares during the quarter. FMR LLC owned about 8.56% of IMAX worth $115,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. grew its position in IMAX by 138.5% in the fourth quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after acquiring an additional 561 shares in the last quarter. Wealthfront Advisers LLC bought a new position in shares of IMAX during the 4th quarter valued at about $217,000. Cornerstone Investment Partners LLC bought a new stake in IMAX in the 4th quarter worth approximately $248,000. Savant Capital LLC bought a new stake in IMAX in the 4th quarter worth approximately $249,000. Finally, US Bancorp DE boosted its stake in shares of IMAX by 60.3% during the fourth quarter. US Bancorp DE now owns 12,276 shares of the company's stock valued at $314,000 after purchasing an additional 4,620 shares during the period. 93.51% of the stock is currently owned by institutional investors.

IMAX Stock Up 3.2 %

Shares of IMAX stock traded up $0.70 during mid-day trading on Friday, reaching $22.47. 1,134,183 shares of the company's stock traded hands, compared to its average volume of 757,210. The company's 50-day moving average price is $25.03 and its 200-day moving average price is $24.18. The company has a market cap of $1.19 billion, a P/E ratio of 45.85, a P/E/G ratio of 1.49 and a beta of 0.91. 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 earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.14). IMAX had a net margin of 7.40% and a return on equity of 8.60%. The business had revenue of $92.67 million for the quarter, compared to the consensus estimate of $104.08 million. Equities analysts predict that IMAX Co. will post 0.91 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on IMAX. Barrington Research upped their price target on shares of IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Wedbush reaffirmed an "outperform" rating and set a $32.00 price objective on shares of IMAX in a research note on Thursday. Rosenblatt Securities restated a "buy" rating and set a $35.00 price target on shares of IMAX in a report on Thursday, April 10th. Macquarie increased their price objective on IMAX from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Finally, StockNews.com downgraded IMAX from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, IMAX presently has a consensus rating of "Moderate Buy" and an average target price of $30.56.

About IMAX

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.