Norges Bank Takes Position in IMAX Co. (NYSE:IMAX)

Norges Bank acquired a new stake in shares of IMAX Co. (NYSE:IMAX - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 144,972 shares of the company's stock, valued at approximately $3,711,000. Norges Bank owned 0.28% of IMAX as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in IMAX by 138.5% during 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. Wealthfront Advisers LLC bought a new position in IMAX in the fourth quarter valued at $217,000. Cornerstone Investment Partners LLC bought a new stake in IMAX during the fourth quarter worth about $248,000. Savant Capital LLC purchased a new position in shares of IMAX in the 4th quarter worth about $249,000. Finally, US Bancorp DE raised its holdings in shares of IMAX by 60.3% during the 4th quarter. US Bancorp DE now owns 12,276 shares of the company's stock valued at $314,000 after buying an additional 4,620 shares in the last quarter. Hedge funds and other institutional investors own 93.51% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on IMAX shares. StockNews.com cut shares of IMAX from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Wells Fargo & Company increased their price objective on IMAX from $26.00 to $32.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Rosenblatt Securities reiterated a "buy" rating and set a $35.00 target price on shares of IMAX in a report on Thursday, April 10th. JPMorgan Chase & Co. reduced their price target on IMAX from $27.00 to $26.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Barrington Research increased their price objective on IMAX from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.56.

IMAX Stock Performance

Shares of IMAX stock traded up $0.12 during trading hours on Wednesday, reaching $21.78. The company had a trading volume of 110,306 shares, compared to its average volume of 752,963. The business has a fifty day moving average price of $25.22 and a 200-day moving average price of $24.16. The firm has a market cap of $1.15 billion, a PE ratio of 44.45, a price-to-earnings-growth ratio of 1.49 and a beta of 0.91. IMAX Co. has a one year low of $14.94 and a one year high of $27.77.

IMAX (NYSE:IMAX - Get Free Report) last released its quarterly earnings results 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 for 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 research analysts forecast that IMAX Co. will post 0.91 EPS for the current year.

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.