Pembroke Management LTD Sells 11,622 Shares of IMAX Co. (NYSE:IMAX)

Pembroke Management LTD lowered its holdings in IMAX Co. (NYSE:IMAX - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 463,139 shares of the company's stock after selling 11,622 shares during the period. Pembroke Management LTD owned approximately 0.88% of IMAX worth $11,856,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Principal Financial Group Inc. raised its position in shares of IMAX by 69.3% in the fourth quarter. Principal Financial Group Inc. now owns 103,946 shares of the company's stock valued at $2,661,000 after purchasing an additional 42,562 shares during the period. Blue Trust Inc. increased its holdings in IMAX by 138.5% during the 4th quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after acquiring an additional 561 shares during the period. Savant Capital LLC bought a new stake in IMAX during the 4th quarter worth approximately $249,000. Calamos Advisors LLC bought a new stake in IMAX during the 4th quarter worth approximately $351,000. Finally, Hedges Asset Management LLC increased its holdings in IMAX by 3.1% during the 4th quarter. Hedges Asset Management LLC now owns 83,600 shares of the company's stock worth $2,140,000 after acquiring an additional 2,500 shares during the period. Institutional investors own 93.51% of the company's stock.

Wall Street Analysts Forecast Growth

IMAX has been the topic of a number of analyst reports. Benchmark reaffirmed a "buy" rating and set a $30.00 target price on shares of IMAX in a report on Thursday. Barrington Research upped their target price on shares of IMAX from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday. JPMorgan Chase & Co. upped their target price on shares of IMAX from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Friday. Wedbush reaffirmed an "outperform" rating and set a $32.00 target price on shares of IMAX in a report on Thursday. Finally, Wells Fargo & Company upped their target price on shares of IMAX from $26.00 to $32.00 and gave the stock an "overweight" rating in a report on Thursday. Two equities 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $30.67.

IMAX Price Performance

IMAX stock traded down $0.91 during midday trading on Friday, reaching $26.03. The company had a trading volume of 1,170,438 shares, compared to its average volume of 722,095. IMAX Co. has a 1 year low of $14.94 and a 1 year high of $27.77. The company has a market capitalization of $1.37 billion, a P/E ratio of 53.11, a P/E/G ratio of 1.50 and a beta of 1.22. The firm has a 50-day moving average price of $24.65 and a 200-day moving average price of $23.00.

IMAX (NYSE:IMAX - Get Free Report) last announced its quarterly earnings data 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). IMAX had a net margin of 7.40% and a return on equity of 8.79%. The business had revenue of $92.67 million during the quarter, compared to analysts' expectations of $104.08 million. On average, equities analysts predict that IMAX Co. will post 0.91 EPS for the current year.

Insider Activity

In other IMAX news, EVP Robert D. Lister sold 55,910 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the completion of the sale, the executive vice president now owns 138,889 shares of the company's stock, valued at $3,541,669.50. This represents a 28.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Natasha Fernandes sold 2,957 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.52, for a total transaction of $75,462.64. Following the sale, the chief financial officer now directly owns 14,883 shares of the company's stock, valued at $379,814.16. The trade was a 16.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,176 shares of company stock valued at $1,662,110. Corporate insiders own 24.08% of the company's stock.

IMAX Company 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.