Becker Capital Management Inc. cut its position in shares of Imax Corp (NYSE:IMAX) by 5.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,013,499 shares of the company’s stock after selling 59,796 shares during the quarter. Becker Capital Management Inc. owned about 1.65% of Imax worth $22,986,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of IMAX. Norges Bank purchased a new position in Imax during the fourth quarter valued at approximately $18,169,000. Stifel Financial Corp grew its stake in Imax by 203.2% during the fourth quarter. Stifel Financial Corp now owns 633,011 shares of the company’s stock valued at $11,933,000 after acquiring an additional 424,264 shares in the last quarter. Shapiro Capital Management LLC grew its stake in Imax by 6.9% during the fourth quarter. Shapiro Capital Management LLC now owns 5,150,005 shares of the company’s stock valued at $96,872,000 after acquiring an additional 330,598 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Imax by 55.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 860,605 shares of the company’s stock valued at $16,188,000 after purchasing an additional 307,948 shares during the last quarter. Finally, American Century Companies Inc. bought a new stake in Imax during the fourth quarter valued at approximately $3,408,000. 77.84% of the stock is currently owned by institutional investors and hedge funds.
NYSE:IMAX traded up $0.15 during midday trading on Friday, reaching $19.96. 518,900 shares of the stock traded hands, compared to its average volume of 414,023. The firm has a market capitalization of $1.20 billion, a P/E ratio of 35.66, a P/E/G ratio of 1.22 and a beta of 1.11. Imax Corp has a 12 month low of $17.55 and a 12 month high of $26.10.
Imax (NYSE:IMAX) last issued its quarterly earnings data on Friday, April 26th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. The business had revenue of $80.20 million for the quarter, compared to the consensus estimate of $81.29 million. Imax had a net margin of 6.12% and a return on equity of 6.31%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 EPS. Research analysts predict that Imax Corp will post 0.91 EPS for the current fiscal year.
IMAX has been the subject of several research analyst reports. Wedbush reiterated an “outperform” rating and set a $28.00 target price on shares of Imax in a research report on Friday, February 22nd. Canaccord Genuity lowered shares of Imax from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a research report on Monday, February 25th. Barrington Research reiterated a “buy” rating and set a $27.00 target price on shares of Imax in a research report on Wednesday, March 6th. B. Riley set a $34.00 price objective on shares of Imax and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, MKM Partners boosted their price objective on shares of Imax to $28.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Imax currently has a consensus rating of “Buy” and a consensus price target of $26.83.
In related news, Director Darren D. Throop sold 3,301 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $20.21, for a total value of $66,713.21. Following the transaction, the director now owns 8,341 shares in the company, valued at approximately $168,571.61. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark Welton sold 15,000 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $24.83, for a total transaction of $372,450.00. Following the completion of the transaction, the insider now owns 20,670 shares in the company, valued at approximately $513,236.10. The disclosure for this sale can be found here. Insiders sold a total of 65,975 shares of company stock worth $1,529,542 over the last ninety days. Insiders own 18.70% of the company’s stock.
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IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company that specializes in motion picture technologies and presentations worldwide. It offers cinematic solution comprising proprietary software, theater architecture, and equipment. The company engages in Digital Re-Mastering (DMR) of films into the IMAX format for exhibition in the IMAX theater network; the provision of IMAX premium theater systems to exhibitor customers through sales, long-term leases, and joint revenue sharing arrangements; the distribution of documentary films; the provision of production technical support and film post-production services; the ownership and operation of IMAX theaters; and the provision of camera and other miscellaneous items rental services.
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