Renaissance Technologies LLC Has $8.04 Million Stake in IMAX Co. (NYSE:IMAX)

Renaissance Technologies LLC lowered its position in shares of IMAX Co. (NYSE:IMAX - Free Report) by 42.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 314,000 shares of the company's stock after selling 231,241 shares during the quarter. Renaissance Technologies LLC owned 0.60% of IMAX worth $8,038,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Blue Trust Inc. raised its stake in IMAX by 138.5% during the 4th 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 period. Wealthfront Advisers LLC purchased a new position in shares of IMAX during the fourth quarter valued at $217,000. Cornerstone Investment Partners LLC acquired a new position in IMAX during the fourth quarter valued at $248,000. Savant Capital LLC purchased a new stake in IMAX in the 4th quarter worth about $249,000. Finally, US Bancorp DE boosted its position in IMAX by 60.3% during the 4th quarter. US Bancorp DE now owns 12,276 shares of the company's stock worth $314,000 after acquiring an additional 4,620 shares during the period. Hedge funds and other institutional investors own 93.51% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IMAX. Macquarie upped their target price on IMAX from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. StockNews.com lowered shares of IMAX from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Wells Fargo & Company lifted their target price on shares of IMAX from $26.00 to $32.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $35.00 price target on shares of IMAX in a research note on Thursday, April 10th. Finally, Wedbush reiterated an "outperform" rating and set a $32.00 price objective on shares of IMAX in a report on Thursday. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $30.56.

IMAX Stock Up 3.2 %

Shares of NYSE:IMAX traded up $0.70 on Friday, reaching $22.47. The company had a trading volume of 1,134,183 shares, compared to its average volume of 757,061. The stock has a market capitalization of $1.19 billion, a P/E ratio of 45.85, a P/E/G ratio of 1.49 and a beta of 0.91. The stock has a 50-day moving average price of $25.03 and a 200 day moving average price of $24.23. IMAX Co. has a twelve month low of $14.94 and a twelve month high of $27.77.

IMAX (NYSE:IMAX - Get Free Report) last announced its 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). 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 the consensus estimate of $104.08 million. On average, sell-side analysts predict that IMAX Co. will post 0.91 earnings per share for the current fiscal 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.