UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Position in IMAX Co. (NYSE:IMAX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in IMAX Co. (NYSE:IMAX - Free Report) by 21.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,021 shares of the company's stock after selling 21,615 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.15% of IMAX worth $1,621,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IMAX. US Bancorp DE boosted its stake in shares of IMAX by 23.4% during the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company's stock worth $157,000 after acquiring an additional 1,452 shares during the period. Huntington National Bank acquired a new stake in IMAX during the 3rd quarter valued at $34,000. Headlands Technologies LLC bought a new position in IMAX during the second quarter worth $35,000. nVerses Capital LLC acquired a new position in shares of IMAX in the third quarter valued at $70,000. Finally, Summit Securities Group LLC bought a new position in shares of IMAX in the second quarter valued at about $80,000. 93.51% of the stock is currently owned by institutional investors and hedge funds.

IMAX Stock Performance

NYSE:IMAX traded up $0.12 during mid-day trading on Tuesday, reaching $25.31. The stock had a trading volume of 641,821 shares, compared to its average volume of 748,725. IMAX Co. has a one year low of $13.20 and a one year high of $26.84. The firm has a 50 day moving average price of $23.75 and a two-hundred day moving average price of $20.60. The stock has a market capitalization of $1.33 billion, a P/E ratio of 57.52, a P/E/G ratio of 1.69 and a beta of 1.23.

IMAX (NYSE:IMAX - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, topping the consensus estimate 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 return on equity of 7.53% and a net margin of 6.74%. The company's quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 earnings per share. Research analysts forecast that IMAX Co. will post 0.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. StockNews.com lowered shares of IMAX from a "buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Barrington Research reaffirmed an "outperform" rating and issued a $24.00 target price on shares of IMAX in a research report on Thursday, October 31st. Wedbush reissued an "outperform" rating on shares of IMAX in a report on Wednesday, November 27th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $28.00 price objective on shares of IMAX in a report on Thursday, October 31st. Finally, Roth Mkm boosted their price objective on shares of IMAX from $27.00 to $28.00 and gave the company a "buy" rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, IMAX has a consensus rating of "Moderate Buy" and a consensus price target of $25.11.

Insider Buying and Selling

In related news, CFO Natasha Fernandes sold 2,957 shares of the company's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the completion of the sale, the chief financial officer now owns 14,883 shares in the company, valued at approximately $379,814.16. This represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth Ian Weissman sold 6,309 shares of the business's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the sale, the insider now owns 25,139 shares of the company's stock, valued at approximately $641,295.89. This represents a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,176 shares of company stock valued at $1,662,110 over the last ninety days. Company insiders own 24.08% of the company's stock.

IMAX Company 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.