Becker Capital Management Inc. Has $7.88 Million Stock Holdings in IMAX Co. (NYSE:IMAX)

Becker Capital Management Inc. reduced its position in shares of IMAX Co. (NYSE:IMAX) by 3.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 415,229 shares of the company’s stock after selling 16,107 shares during the period. Becker Capital Management Inc. owned 0.70% of IMAX worth $7,881,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in IMAX. Thrivent Financial for Lutherans purchased a new position in IMAX in the 2nd quarter worth approximately $450,000. Parametric Portfolio Associates LLC grew its position in IMAX by 1.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 77,700 shares of the company’s stock valued at $1,671,000 after purchasing an additional 1,339 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of IMAX by 197.0% during the 2nd quarter. Wells Fargo & Company MN now owns 296,639 shares of the company’s stock valued at $6,378,000 after acquiring an additional 196,769 shares during the last quarter. Orchard Capital Managment LLC lifted its stake in shares of IMAX by 14.3% in the 2nd quarter. Orchard Capital Managment LLC now owns 586,966 shares of the company’s stock worth $12,620,000 after purchasing an additional 73,579 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of IMAX by 0.7% in the 2nd quarter. Invesco Ltd. now owns 2,645,587 shares of the company’s stock worth $56,879,000 after purchasing an additional 18,794 shares during the period. 74.71% of the stock is currently owned by institutional investors and hedge funds.

IMAX stock traded up $0.25 during midday trading on Thursday, reaching $18.44. 299,407 shares of the stock traded hands, compared to its average volume of 822,993. The company has a 50-day simple moving average of $19.63 and a two-hundred day simple moving average of $18.95. IMAX Co. has a 12-month low of $13.60 and a 12-month high of $25.05. The firm has a market cap of $1.09 billion, a PE ratio of -20.26 and a beta of 1.58.

IMAX (NYSE:IMAX) last posted its quarterly earnings results on Thursday, October 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.14. The company had revenue of $56.60 million for the quarter, compared to analyst estimates of $56.73 million. IMAX had a negative return on equity of 13.96% and a negative net margin of 26.53%. IMAX’s revenue for the quarter was up 51.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.84) EPS. On average, analysts expect that IMAX Co. will post -0.67 EPS for the current year.

A number of research firms recently weighed in on IMAX. JPMorgan Chase & Co. cut their target price on shares of IMAX from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, July 28th. B. Riley boosted their target price on shares of IMAX from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, October 11th. TheStreet upgraded IMAX from a “d+” rating to a “c” rating in a research report on Tuesday, November 16th. Barrington Research upped their price objective on IMAX from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, October 29th. Finally, Wedbush reaffirmed a “buy” rating and set a $26.00 target price on shares of IMAX in a research note on Wednesday, August 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, IMAX presently has a consensus rating of “Buy” and an average target price of $24.60.

About IMAX

IMAX Corp. is an entertainment technology company, which engages in the business of motion picture technologies and presentations. It operates through following four business segments: IMAX Technology Network; IMAX Technology Sales and Maintenance; New Business Initiatives; and Film Distribution and Post-Production.

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Institutional Ownership by Quarter for IMAX (NYSE:IMAX)

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