IMAX Co. (NYSE:IMAX) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC boosted its position in shares of IMAX Co. (NYSE:IMAX - Free Report) by 116.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,589 shares of the company's stock after purchasing an additional 11,597 shares during the period. Intech Investment Management LLC's holdings in IMAX were worth $553,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC bought a new position in shares of IMAX in the fourth quarter worth about $217,000. Raymond James Financial Inc. purchased a new position in shares of IMAX during the fourth quarter worth approximately $9,143,000. Proficio Capital Partners LLC bought a new stake in shares of IMAX during the fourth quarter valued at approximately $502,000. Cornerstone Investment Partners LLC purchased a new stake in shares of IMAX in the fourth quarter valued at approximately $248,000. Finally, US Bancorp DE increased its holdings in IMAX by 60.3% during the 4th quarter. US Bancorp DE now owns 12,276 shares of the company's stock worth $314,000 after purchasing an additional 4,620 shares during the period. 93.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IMAX has been the topic of several research reports. Macquarie raised their price target on IMAX from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. boosted their price target on shares of IMAX from $25.00 to $27.00 and gave the company a "neutral" rating in a report on Friday, February 21st. Barrington Research increased their price objective on shares of IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Wedbush reissued an "outperform" rating and issued a $32.00 price objective on shares of IMAX in a research note on Thursday, February 20th. Finally, Rosenblatt Securities increased their target price on IMAX from $28.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $30.67.

Remove Ads

IMAX Price Performance

NYSE:IMAX traded down $0.95 during midday trading on Friday, hitting $26.08. The company's stock had a trading volume of 1,041,805 shares, compared to its average volume of 718,947. IMAX Co. has a fifty-two week low of $14.94 and a fifty-two week high of $27.77. The firm has a market cap of $1.38 billion, a P/E ratio of 53.23, a P/E/G ratio of 1.49 and a beta of 1.22. The firm's 50 day moving average is $25.18 and its 200-day moving average is $23.79.

IMAX (NYSE:IMAX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing the consensus estimate 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%. As a group, analysts forecast that IMAX Co. will post 0.91 EPS for the current year.

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.