Thrivent Financial for Lutherans Purchases New Position in IMAX Corporation $IMAX

Thrivent Financial for Lutherans acquired a new position in shares of IMAX Corporation (NYSE:IMAX) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 99,915 shares of the company’s stock, valued at approximately $3,272,000.

A number of other large investors also recently modified their holdings of IMAX. Arizona State Retirement System grew its holdings in IMAX by 2.8% during the third quarter. Arizona State Retirement System now owns 13,517 shares of the company’s stock worth $443,000 after buying an additional 364 shares in the last quarter. TD Waterhouse Canada Inc. boosted its holdings in IMAX by 125.0% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock worth $25,000 after acquiring an additional 500 shares during the last quarter. Legal & General Group Plc grew its stake in shares of IMAX by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 50,969 shares of the company’s stock worth $1,425,000 after acquiring an additional 756 shares in the last quarter. XTX Topco Ltd raised its holdings in shares of IMAX by 3.7% in the second quarter. XTX Topco Ltd now owns 23,541 shares of the company’s stock valued at $658,000 after purchasing an additional 842 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of IMAX by 467.8% during the third quarter. Farther Finance Advisors LLC now owns 1,215 shares of the company’s stock valued at $40,000 after purchasing an additional 1,001 shares in the last quarter. Institutional investors own 93.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on IMAX shares. Wells Fargo & Company upped their price objective on shares of IMAX from $40.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Macquarie Infrastructure boosted their target price on IMAX from $39.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. B. Riley Financial reaffirmed a “buy” rating on shares of IMAX in a research report on Monday, December 8th. Benchmark reissued a “buy” rating on shares of IMAX in a research report on Monday, January 5th. Finally, JPMorgan Chase & Co. upgraded IMAX from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $32.00 to $47.00 in a research note on Monday, December 15th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.70.

IMAX Price Performance

NYSE:IMAX opened at $37.23 on Monday. The company has a market capitalization of $2.00 billion, a P/E ratio of 52.44, a P/E/G ratio of 1.84 and a beta of 0.38. The business has a fifty day simple moving average of $36.33 and a two-hundred day simple moving average of $32.86. IMAX Corporation has a 1 year low of $20.48 and a 1 year high of $39.98.

IMAX Company Profile

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.