Royce & Associates LP decreased its position in IMAX Co. (NYSE:IMAX - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,771,058 shares of the company's stock after selling 51,558 shares during the quarter. Royce & Associates LP owned 3.36% of IMAX worth $45,339,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in IMAX. FMR LLC boosted its stake in IMAX by 108.4% in the third quarter. FMR LLC now owns 3,949,643 shares of the company's stock worth $81,007,000 after purchasing an additional 2,054,031 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of IMAX by 9.8% in the third quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company's stock valued at $29,136,000 after buying an additional 127,371 shares during the last quarter. Mizuho Markets Americas LLC lifted its position in IMAX by 47.5% during the 3rd quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company's stock worth $7,952,000 after buying an additional 124,811 shares in the last quarter. Raymond James Financial Inc. bought a new stake in IMAX during the 4th quarter worth about $9,143,000. Finally, Lord Abbett & CO. LLC acquired a new stake in IMAX in the 3rd quarter valued at about $6,322,000. 93.51% of the stock is owned by institutional investors.
IMAX Trading Up 2.1 %
Shares of IMAX stock traded up $0.55 on Thursday, reaching $26.48. The company had a trading volume of 959,709 shares, compared to its average volume of 701,139. The stock has a market cap of $1.40 billion, a PE ratio of 54.04, a PEG ratio of 1.49 and a beta of 1.22. The company has a 50-day moving average of $24.69 and a 200-day moving average of $23.57. IMAX Co. has a 12 month low of $14.94 and a 12 month high of $27.77.
IMAX (NYSE:IMAX - Get Free Report) last posted its 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 business had revenue of $92.67 million for the quarter, compared to the consensus estimate of $104.08 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. Sell-side analysts anticipate that IMAX Co. will post 0.91 earnings per share for the current year.
Wall Street Analyst Weigh In
Several analysts have recently commented on the stock. Rosenblatt Securities increased their price target on shares of IMAX from $28.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. increased their price objective on IMAX from $25.00 to $27.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. Macquarie lifted their target price on IMAX from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Barrington Research raised their price target on IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company boosted their price objective on IMAX from $26.00 to $32.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $30.67.
Check Out Our Latest Stock Report on IMAX
About IMAX
(
Free Report)
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.
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