Sei Investments Co. Boosts Stock Position in IMAX Co. (NYSE:IMAX)

Sei Investments Co. boosted its holdings in shares of IMAX Co. (NYSE:IMAX - Free Report) by 10.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,577 shares of the company's stock after acquiring an additional 13,549 shares during the period. Sei Investments Co. owned 0.28% of IMAX worth $3,752,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Blue Trust Inc. increased its holdings in IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after buying an additional 561 shares in the last quarter. Quarry LP grew its stake in shares of IMAX by 78,333.3% in the third quarter. Quarry LP now owns 2,353 shares of the company's stock worth $48,000 after acquiring an additional 2,350 shares during the period. Wealthfront Advisers LLC purchased a new position in shares of IMAX during the fourth quarter valued at approximately $217,000. Cornerstone Investment Partners LLC bought a new position in IMAX during the fourth quarter valued at approximately $248,000. Finally, Savant Capital LLC purchased a new stake in IMAX in the fourth quarter worth approximately $249,000. Hedge funds and other institutional investors own 93.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IMAX. Wells Fargo & Company raised their price target on IMAX from $26.00 to $32.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Macquarie boosted their price target on IMAX from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Benchmark reiterated a "buy" rating and issued a $30.00 price objective on shares of IMAX in a research note on Thursday, February 20th. JPMorgan Chase & Co. boosted their target price on shares of IMAX from $25.00 to $27.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. Finally, Rosenblatt Securities increased their price target on shares of IMAX from $28.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Two investment 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's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $30.67.

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IMAX Stock Down 5.2 %

IMAX stock traded down $1.35 during trading on Friday, reaching $24.38. The company's stock had a trading volume of 1,387,527 shares, compared to its average volume of 721,705. The company's fifty day moving average is $25.48 and its 200-day moving average is $24.03. 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 $1.29 billion, a P/E ratio of 49.76, a price-to-earnings-growth ratio of 1.49 and a beta of 0.91.

IMAX (NYSE:IMAX - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.14). IMAX had a net margin of 7.40% and a return on equity of 8.60%. The business had revenue of $92.67 million for the quarter, compared to the consensus estimate of $104.08 million. Analysts anticipate that IMAX Co. will post 0.91 earnings per share for the current year.

About IMAX

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.