Quantbot Technologies LP Purchases New Stake in IMAX Co. (NYSE:IMAX)

Quantbot Technologies LP bought a new position in shares of IMAX Co. (NYSE:IMAX - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 37,904 shares of the company's stock, valued at approximately $777,000. Quantbot Technologies LP owned about 0.07% of IMAX as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of IMAX by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 584,795 shares of the company's stock valued at $9,456,000 after purchasing an additional 68,155 shares during the period. Victory Capital Management Inc. grew its position in shares of IMAX by 33.1% during the second quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company's stock worth $21,687,000 after acquiring an additional 321,506 shares during the last quarter. Mizuho Markets Americas LLC increased its holdings in shares of IMAX by 47.5% in the 3rd quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company's stock valued at $7,952,000 after acquiring an additional 124,811 shares during the period. American Century Companies Inc. raised its position in IMAX by 57.0% in the 2nd quarter. American Century Companies Inc. now owns 120,021 shares of the company's stock valued at $2,013,000 after purchasing an additional 43,584 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in IMAX by 90.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company's stock worth $9,856,000 after purchasing an additional 279,410 shares during the period. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IMAX. JPMorgan Chase & Co. boosted their target price on IMAX from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Monday, October 14th. Rosenblatt Securities reissued a "buy" rating and issued a $28.00 price objective on shares of IMAX in a research note on Thursday, October 31st. Roth Mkm raised their target price on shares of IMAX from $27.00 to $28.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Wedbush reiterated an "outperform" rating on shares of IMAX in a research note on Wednesday, November 27th. Finally, Barrington Research reissued an "outperform" rating and set a $24.00 price target on shares of IMAX in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.22.

IMAX Stock Performance

IMAX stock traded up $0.41 during trading on Monday, reaching $26.73. 886,168 shares of the company's stock were exchanged, compared to its average volume of 760,779. The company's 50-day moving average is $22.31 and its two-hundred day moving average is $19.83. IMAX Co. has a 52-week low of $13.20 and a 52-week high of $26.84. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 59.82, a PEG ratio of 1.68 and a beta of 1.22.

IMAX (NYSE:IMAX - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.23 by $0.12. The firm had revenue of $91.50 million for the quarter, compared to analyst estimates of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. IMAX's revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 EPS. Analysts anticipate that IMAX Co. will post 0.77 EPS for the current year.

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.