Mutual of America Capital Management LLC trimmed its position in IMAX Co. (NYSE:IMAX - Free Report) by 42.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 119,059 shares of the company's stock after selling 87,232 shares during the quarter. Mutual of America Capital Management LLC owned about 0.23% of IMAX worth $3,048,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in IMAX by 138.5% in the fourth quarter. Blue Trust Inc. now owns 966 shares of the company's stock valued at $25,000 after purchasing an additional 561 shares during the last quarter. Huntington National Bank acquired a new position in shares of IMAX in the 3rd quarter valued at about $34,000. Quarry LP lifted its holdings in shares of IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company's stock valued at $48,000 after buying an additional 2,350 shares during the period. US Bancorp DE boosted its stake in shares of IMAX by 23.4% in the third quarter. US Bancorp DE now owns 7,656 shares of the company's stock worth $157,000 after buying an additional 1,452 shares during the last quarter. Finally, Savant Capital LLC acquired a new stake in IMAX during the fourth quarter worth about $249,000. Institutional investors and hedge funds own 93.51% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have issued reports on IMAX shares. Wells Fargo & Company boosted their price target on IMAX from $26.00 to $32.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Macquarie raised their price target 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. Wedbush reiterated an "outperform" rating and issued a $32.00 price objective on shares of IMAX in a research report on Thursday, February 20th. Benchmark restated a "buy" rating and set a $30.00 target price on shares of IMAX in a research report 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. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $30.67.
Read Our Latest Stock Analysis on IMAX
IMAX Trading Down 2.0 %
IMAX stock traded down $0.51 during mid-day trading on Monday, reaching $24.75. The company's stock had a trading volume of 1,026,412 shares, compared to its average volume of 726,769. The company's 50 day moving average is $24.73 and its two-hundred day moving average is $23.40. IMAX Co. has a fifty-two week low of $14.94 and a fifty-two week high of $27.77. The stock has a market cap of $1.31 billion, a PE ratio of 50.51, 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). IMAX had a return on equity of 8.60% and a net margin of 7.40%. The company had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. On average, analysts forecast that IMAX Co. will post 0.91 earnings per share for the current fiscal year.
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.
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