IMAX (NYSE:IMAX) Trading 5.6% Higher - What's Next?

IMAX Co. (NYSE:IMAX - Get Free Report)'s share price traded up 5.6% on Wednesday . The stock traded as high as $25.46 and last traded at $25.71. 271,796 shares changed hands during trading, a decline of 61% from the average session volume of 695,365 shares. The stock had previously closed at $24.34.

Analyst Ratings Changes

IMAX has been the subject of several analyst reports. Wedbush reiterated an "outperform" rating and issued a $32.00 price objective on shares of IMAX in a research note on Thursday, February 20th. Rosenblatt Securities increased their price target on IMAX from $28.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price objective on IMAX from $25.00 to $27.00 and gave the stock a "neutral" rating in a research report on Friday, February 21st. StockNews.com raised IMAX from a "hold" rating to a "buy" rating in a research report on Wednesday. Finally, Macquarie lifted 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, February 20th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, IMAX currently has an average rating of "Buy" and an average target price of $30.67.

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IMAX Price Performance

The firm's 50 day moving average price is $24.83 and its two-hundred day moving average price is $23.65. The stock has a market cap of $1.42 billion, a PE ratio of 54.68, a P/E/G ratio of 1.49 and a beta of 1.22.

IMAX (NYSE:IMAX - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $92.67 million during the quarter, compared to analysts' expectations of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. Analysts anticipate that IMAX Co. will post 0.91 earnings per share for the current year.

Institutional Trading of IMAX

A number of hedge funds and other institutional investors have recently made changes to their positions in IMAX. Intech Investment Management LLC bought a new stake in shares of IMAX during the third quarter valued at about $205,000. 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 acquiring an additional 2,054,031 shares during the period. Quantbot Technologies LP purchased a new stake in shares of IMAX in the third quarter worth $777,000. PEAK6 Investments LLC raised its position in shares of IMAX by 312.1% in the third quarter. PEAK6 Investments LLC now owns 55,676 shares of the company's stock worth $1,142,000 after buying an additional 42,165 shares in the last quarter. Finally, Atom Investors LP purchased a new position in IMAX during the third quarter worth about $265,000. 93.51% of the stock is currently owned by institutional investors.

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.