Wells Fargo & Company MN Raises Holdings in IMAX Co. (NYSE:IMAX)

Wells Fargo & Company MN raised its stake in IMAX Co. (NYSE:IMAX - Free Report) by 45.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 624,510 shares of the company's stock after acquiring an additional 194,917 shares during the quarter. Wells Fargo & Company MN owned approximately 1.19% of IMAX worth $15,987,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of IMAX. Public Employees Retirement System of Ohio acquired a new stake in shares of IMAX in the third quarter valued at about $1,555,000. Lord Abbett & CO. LLC purchased a new stake in shares of IMAX during the third quarter worth $6,322,000. SG Americas Securities LLC purchased a new position in shares of IMAX in the fourth quarter worth about $333,000. Janney Montgomery Scott LLC grew its position in shares of IMAX by 1.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company's stock valued at $747,000 after purchasing an additional 533 shares in the last quarter. Finally, Hedges Asset Management LLC increased its holdings in shares of IMAX by 3.1% in the fourth quarter. Hedges Asset Management LLC now owns 83,600 shares of the company's stock valued at $2,140,000 after purchasing an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 93.51% of the company's stock.

IMAX Trading Up 3.2 %

IMAX stock traded up $0.70 on Friday, hitting $22.47. The company's stock had a trading volume of 1,134,183 shares, compared to its average volume of 757,061. IMAX Co. has a 1 year low of $14.94 and a 1 year high of $27.77. The stock has a market cap 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. The firm has a 50 day moving average of $25.03 and a two-hundred day moving average of $24.20.

IMAX (NYSE:IMAX - Get Free Report) last released its quarterly 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 return on equity of 8.60% and a net margin of 7.40%. The company had revenue of $92.67 million for the quarter, compared to analysts' expectations of $104.08 million. As a group, equities analysts forecast that IMAX Co. will post 0.91 EPS for the current fiscal year.

Analysts Set New Price Targets

IMAX has been the topic of a number of analyst reports. Barrington Research lifted their target price on shares of IMAX from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Wedbush reiterated an "outperform" rating and issued a $32.00 price objective on shares of IMAX in a report on Thursday. Wells Fargo & Company increased their target price on shares of IMAX from $26.00 to $32.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Benchmark reaffirmed a "buy" rating and issued a $30.00 price target on shares of IMAX in a research report on Thursday, April 10th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $35.00 price objective on shares of IMAX in a research report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $30.56.

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.