IMAX Co. (NYSE:IMAX) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its stake in shares of IMAX Co. (NYSE:IMAX - Free Report) by 22.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 637,779 shares of the company's stock after selling 181,546 shares during the period. Thrivent Financial for Lutherans owned 1.21% of IMAX worth $13,081,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Huntington National Bank bought a new position in shares of IMAX in the third quarter worth about $34,000. Headlands Technologies LLC purchased a new stake in IMAX in the 2nd quarter worth $35,000. nVerses Capital LLC purchased a new stake in shares of IMAX in the third quarter worth about $70,000. Summit Securities Group LLC bought a new position in shares of IMAX during the 2nd quarter valued at approximately $80,000. Finally, Laurus Investment Counsel Inc. purchased a new position in shares of IMAX in the second quarter valued at $150,000. 93.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IMAX shares. Macquarie lifted their price objective on shares of IMAX from $24.00 to $26.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. StockNews.com cut IMAX from a "buy" rating to a "hold" rating in a research note on Thursday. Roth Mkm raised their price objective on IMAX from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Rosenblatt Securities reissued a "buy" rating and set a $28.00 target price on shares of IMAX in a research report on Thursday, October 31st. Finally, Wedbush raised their price target on IMAX from $24.00 to $26.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $24.22.

IMAX Stock Up 1.9 %

NYSE:IMAX traded up $0.48 during mid-day trading on Friday, reaching $25.19. The company's stock had a trading volume of 621,620 shares, compared to its average volume of 760,870. The firm has a market capitalization of $1.33 billion, a PE ratio of 57.25, a price-to-earnings-growth ratio of 1.63 and a beta of 1.22. The stock has a fifty day moving average of $21.68 and a 200-day moving average of $19.43. IMAX Co. has a 1 year low of $13.20 and a 1 year high of $25.51.

IMAX (NYSE:IMAX - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.12. The firm had revenue of $91.50 million for the quarter, compared to the consensus estimate of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The company's quarterly revenue was down 11.9% on a year-over-year basis. During the same period last year, the firm earned $0.27 earnings per share. On average, analysts expect that IMAX Co. will post 0.76 earnings per share 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.