Victory Capital Management Inc. Sells 28,608 Shares of IMAX Co. (NYSE:IMAX)

Victory Capital Management Inc. lessened its holdings in IMAX Co. (NYSE:IMAX - Free Report) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,391,984 shares of the company's stock after selling 28,608 shares during the quarter. Victory Capital Management Inc. owned 2.64% of IMAX worth $35,635,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. FMR LLC grew its holdings in IMAX by 108.4% during the 3rd quarter. FMR LLC now owns 3,949,643 shares of the company's stock valued at $81,007,000 after buying an additional 2,054,031 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in IMAX during the third quarter valued at approximately $6,322,000. Castleark Management LLC purchased a new stake in IMAX during the 3rd quarter worth $5,199,000. Pier Capital LLC acquired a new stake in shares of IMAX in the third quarter valued at about $4,221,000. Finally, Mizuho Markets Americas LLC raised its stake in shares of IMAX by 47.5% during the third quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company's stock valued at $7,952,000 after purchasing an additional 124,811 shares during the period. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IMAX. Wells Fargo & Company lifted 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. JPMorgan Chase & Co. increased their price objective on IMAX from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Friday, February 21st. Macquarie boosted their price objective on IMAX from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Wedbush reaffirmed an "outperform" rating and issued a $32.00 price target on shares of IMAX in a report on Thursday, February 20th. Finally, Barrington Research upped their price objective on shares of IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, IMAX presently has an average rating of "Moderate Buy" and a consensus target price of $30.67.

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IMAX Trading Down 2.2 %

Shares of IMAX stock traded down $0.54 on Tuesday, hitting $24.25. The stock had a trading volume of 317,983 shares, compared to its average volume of 717,648. The firm has a market cap of $1.29 billion, a P/E ratio of 49.56, a PEG ratio of 1.49 and a beta of 1.22. IMAX Co. has a twelve month low of $14.94 and a twelve month high of $27.77. The company has a fifty day moving average price of $24.73 and a two-hundred day moving average price of $23.43.

IMAX (NYSE:IMAX - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.14). IMAX had a net margin of 7.40% and a return on equity of 8.60%. The firm had revenue of $92.67 million during the quarter, compared to analyst estimates of $104.08 million. On average, analysts expect 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.