Quantbot Technologies LP Decreases Stock Holdings in IMAX Co. (NYSE:IMAX)

Quantbot Technologies LP cut its holdings in IMAX Co. (NYSE:IMAX - Free Report) by 57.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,967 shares of the company's stock after selling 21,937 shares during the period. Quantbot Technologies LP's holdings in IMAX were worth $409,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Intech Investment Management LLC lifted its position in IMAX by 116.1% in the fourth quarter. Intech Investment Management LLC now owns 21,589 shares of the company's stock valued at $553,000 after purchasing an additional 11,597 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in IMAX during the 4th quarter valued at $217,000. Raymond James Financial Inc. purchased a new stake in IMAX during the 4th quarter valued at $9,143,000. Proficio Capital Partners LLC bought a new stake in IMAX in the 4th quarter worth $502,000. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of IMAX in the fourth quarter valued at about $248,000. 93.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IMAX has been the subject of a number of analyst reports. Benchmark reiterated a "buy" rating and set a $30.00 target price on shares of IMAX in a report on Thursday, February 20th. Wells Fargo & Company lifted their price objective on IMAX from $26.00 to $32.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Barrington Research upped their target price on IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Rosenblatt Securities raised their price target on IMAX from $28.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Finally, Macquarie boosted their price objective 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. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $30.67.

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IMAX Stock Performance

Shares of IMAX stock traded up $0.04 during trading on Wednesday, hitting $26.62. The company's stock had a trading volume of 403,949 shares, compared to its average volume of 718,741. IMAX Co. has a 52 week low of $14.94 and a 52 week high of $27.77. The company has a fifty day simple moving average of $25.43 and a two-hundred day simple moving average of $23.97. The company has a market capitalization of $1.41 billion, a PE ratio of 54.33, a P/E/G ratio of 1.49 and a beta of 1.22.

IMAX (NYSE:IMAX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.14). The company 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%. As a group, analysts predict 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.