Loomis Sayles & Co. L P acquired a new position in shares of Imax Corp (NYSE:IMAX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 550,348 shares of the company’s stock, valued at approximately $14,199,000. Loomis Sayles & Co. L P owned 0.88% of Imax as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in IMAX. Renaissance Technologies LLC acquired a new stake in shares of Imax during the 2nd quarter worth approximately $202,000. B. Riley Financial Inc. acquired a new stake in shares of Imax during the 2nd quarter worth approximately $242,000. CIBC World Markets Inc. acquired a new stake in shares of Imax during the 3rd quarter worth approximately $307,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Imax during the 3rd quarter worth approximately $338,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Imax during the 3rd quarter worth approximately $369,000. 76.52% of the stock is owned by institutional investors.
Several analysts have recently commented on the stock. B. Riley set a $34.00 price objective on shares of Imax and gave the stock a “buy” rating in a research report on Friday. ValuEngine downgraded shares of Imax from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Barrington Research reduced their price target on shares of Imax to $27.00 and set an “outperform” rating for the company in a research report on Monday, October 29th. Canaccord Genuity reduced their price target on shares of Imax from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Finally, Wedbush set a $29.00 price target on shares of Imax and gave the company a “buy” rating in a research report on Monday, October 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $26.72.
Shares of Imax stock opened at $18.53 on Friday. Imax Corp has a 52-week low of $18.13 and a 52-week high of $26.10. The stock has a market capitalization of $1.17 billion, a P/E ratio of 102.94, a PEG ratio of 1.55 and a beta of 1.17.
Imax (NYSE:IMAX) last announced its quarterly earnings data on Thursday, October 25th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.10. Imax had a return on equity of 6.87% and a net margin of 6.64%. The business had revenue of $82.11 million for the quarter, compared to analysts’ expectations of $80.26 million. On average, equities analysts anticipate that Imax Corp will post 0.64 earnings per share for the current fiscal year.
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, or 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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