Vanguard Group Inc. Grows Stock Position in IMAX Co. (NYSE:IMAX)

Vanguard Group Inc. increased its position in shares of IMAX Co. (NYSE:IMAX - Free Report) by 11.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 612,115 shares of the company's stock after buying an additional 60,762 shares during the period. Vanguard Group Inc. owned about 1.16% of IMAX worth $15,670,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new position in shares of IMAX in the third quarter valued at about $1,555,000. Lord Abbett & CO. LLC purchased a new position in IMAX during the third quarter valued at approximately $6,322,000. SG Americas Securities LLC acquired a new position in shares of IMAX in the 4th quarter valued at $333,000. Janney Montgomery Scott LLC boosted its stake in shares of IMAX by 1.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company's stock worth $747,000 after acquiring an additional 533 shares in the last quarter. Finally, Hedges Asset Management LLC raised its holdings in IMAX by 3.1% in the 4th quarter. Hedges Asset Management LLC now owns 83,600 shares of the company's stock worth $2,140,000 after purchasing an additional 2,500 shares during the period. 93.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of IMAX from $27.00 to $26.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Macquarie raised their target price on shares of IMAX from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. StockNews.com lowered IMAX from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Benchmark restated a "buy" rating and set a $30.00 price objective on shares of IMAX in a research report on Thursday, April 10th. Finally, Wells Fargo & Company lifted their target price on IMAX from $26.00 to $32.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Two equities research 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $30.56.

IMAX Stock Performance

IMAX traded up $0.70 during trading on Friday, reaching $22.47. The company's stock had a trading volume of 1,134,183 shares, compared to its average volume of 757,061. The company's fifty day moving average price is $25.03 and its 200-day moving average price is $24.20. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 45.85, a price-to-earnings-growth ratio of 1.49 and a beta of 0.91. IMAX Co. has a 52-week low of $14.94 and a 52-week high of $27.77.

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

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.