Principal Financial Group Inc. Purchases 28,667 Shares of IMAX Corporation $IMAX

Principal Financial Group Inc. grew its holdings in shares of IMAX Corporation (NYSE:IMAX) by 67.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,927 shares of the company’s stock after buying an additional 28,667 shares during the period. Principal Financial Group Inc.’s holdings in IMAX were worth $2,323,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of IMAX. TD Waterhouse Canada Inc. lifted its holdings in shares of IMAX by 125.0% during the second quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock valued at $25,000 after purchasing an additional 500 shares during the last quarter. First Horizon Corp bought a new position in IMAX during the 3rd quarter valued at approximately $34,000. Farther Finance Advisors LLC raised its stake in 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 buying an additional 1,001 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in IMAX in the third quarter worth $57,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of IMAX by 194.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,148 shares of the company’s stock worth $116,000 after acquiring an additional 2,740 shares during the last quarter. Institutional investors own 93.51% of the company’s stock.

IMAX Trading Up 2.0%

Shares of IMAX stock opened at $36.04 on Tuesday. IMAX Corporation has a 12-month low of $20.48 and a 12-month high of $39.98. The stock has a market capitalization of $1.94 billion, a P/E ratio of 50.76, a P/E/G ratio of 1.78 and a beta of 0.38. The firm’s 50 day moving average is $36.34 and its 200 day moving average is $33.26.

Analyst Ratings Changes

Several equities analysts have recently issued reports on IMAX shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IMAX in a research report on Monday, December 29th. Roth Mkm restated a “buy” rating and set a $42.00 price objective on shares of IMAX in a research note on Monday, December 8th. B. Riley Financial reaffirmed a “buy” rating on shares of IMAX in a report on Monday, December 8th. Wedbush increased their price target on shares of IMAX from $39.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, December 8th. Finally, JPMorgan Chase & Co. raised shares of IMAX from a “neutral” rating to an “overweight” rating and raised their price target for the company from $32.00 to $47.00 in a research report on Monday, December 15th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.70.

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.