First Wilshire Securities Management Inc. Trims Stock Holdings in IMAX Corporation $IMAX

First Wilshire Securities Management Inc. lowered its position in shares of IMAX Corporation (NYSE:IMAX) by 33.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 190,744 shares of the company’s stock after selling 94,436 shares during the quarter. IMAX comprises approximately 1.5% of First Wilshire Securities Management Inc.’s portfolio, making the stock its 21st biggest position. First Wilshire Securities Management Inc. owned 0.35% of IMAX worth $5,333,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. US Bancorp DE increased its stake in shares of IMAX by 33.1% in the 1st quarter. US Bancorp DE now owns 16,338 shares of the company’s stock worth $431,000 after acquiring an additional 4,062 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in IMAX by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 104,510 shares of the company’s stock worth $2,754,000 after purchasing an additional 1,309 shares during the period. Nuveen LLC bought a new position in shares of IMAX during the first quarter valued at approximately $4,438,000. Neuberger Berman Group LLC increased its stake in shares of IMAX by 4.1% during the first quarter. Neuberger Berman Group LLC now owns 13,838 shares of the company’s stock valued at $365,000 after purchasing an additional 542 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of IMAX during the first quarter valued at approximately $289,000. Institutional investors own 93.51% of the company’s stock.

Insider Buying and Selling at IMAX

In other IMAX news, VP Robert D. Lister sold 50,143 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $34.67, for a total value of $1,738,457.81. Following the transaction, the vice president owned 161,421 shares of the company’s stock, valued at approximately $5,596,466.07. This represents a 23.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Giovanni M. Dolci sold 6,188 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $34.25, for a total value of $211,939.00. Following the completion of the transaction, the executive vice president directly owned 33,000 shares in the company, valued at $1,130,250. The trade was a 15.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 76,331 shares of company stock worth $2,606,397 over the last three months. Insiders own 24.08% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Rosenblatt Securities restated a “buy” rating and issued a $42.00 price target on shares of IMAX in a research note on Friday, October 24th. Wall Street Zen raised IMAX from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 30th. Wells Fargo & Company raised their price target on IMAX from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Wedbush upped their price target on shares of IMAX from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Finally, The Goldman Sachs Group raised shares of IMAX from a “sell” rating to a “neutral” rating and increased their price objective for the company from $22.00 to $34.00 in a research report on Tuesday, November 25th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, IMAX currently has a consensus rating of “Moderate Buy” and an average target price of $36.40.

IMAX Stock Down 1.6%

Shares of IMAX stock opened at $35.67 on Monday. The company has a 50 day moving average price of $33.81 and a 200-day moving average price of $30.11. IMAX Corporation has a 52 week low of $20.48 and a 52 week high of $37.78. The firm has a market capitalization of $1.92 billion, a PE ratio of 50.24, a P/E/G ratio of 2.19 and a beta of 0.41.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. IMAX had a net margin of 10.47% and a return on equity of 9.91%. The company had revenue of $106.65 million for the quarter, compared to the consensus estimate of $102.88 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. Analysts anticipate that IMAX Corporation will post 0.91 earnings per share for the current year.

IMAX 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.