IMAX Corporation $IMAX Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. increased its holdings in shares of IMAX Corporation (NYSE:IMAX) by 50.6% in the 4th quarter, HoldingsChannel reports. The firm owned 41,264 shares of the company’s stock after acquiring an additional 13,872 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in IMAX were worth $1,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IMAX. CIBC Private Wealth Group LLC purchased a new stake in IMAX in the third quarter valued at $27,000. First Horizon Corp purchased a new position in shares of IMAX during the 3rd quarter valued at about $34,000. Jones Financial Companies Lllp lifted its holdings in shares of IMAX by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,041 shares of the company’s stock valued at $34,000 after buying an additional 317 shares during the period. Clearstead Advisors LLC purchased a new stake in shares of IMAX in the third quarter worth about $35,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of IMAX by 2,310.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,157 shares of the company’s stock worth $38,000 after buying an additional 1,109 shares during the last quarter. 93.51% of the stock is currently owned by institutional investors and hedge funds.

IMAX Stock Down 0.3%

Shares of IMAX stock opened at $40.01 on Friday. The firm has a market cap of $2.16 billion, a PE ratio of 64.54, a P/E/G ratio of 1.89 and a beta of 0.41. IMAX Corporation has a twelve month low of $20.48 and a twelve month high of $43.16. The business has a 50-day moving average price of $37.78 and a 200 day moving average price of $35.84.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.15. IMAX had a return on equity of 13.53% and a net margin of 8.50%.The company had revenue of $125.21 million for the quarter, compared to the consensus estimate of $120.30 million. During the same quarter in the prior year, the business posted $0.27 earnings per share. IMAX’s revenue for the quarter was up 35.1% on a year-over-year basis. On average, sell-side analysts expect that IMAX Corporation will post 0.91 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the company. Macquarie Infrastructure lifted their price target on IMAX from $39.00 to $44.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. B. Riley Financial restated a “buy” rating on shares of IMAX in a research report on Monday, December 8th. Roth Mkm reaffirmed a “buy” rating and set a $42.00 price objective on shares of IMAX in a research note on Monday, December 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $47.00 target price on shares of IMAX in a report on Tuesday, February 24th. Finally, Wedbush reiterated an “outperform” rating and issued a $46.00 target price on shares of IMAX in a research note on Monday, February 23rd. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.70.

Insider Activity at IMAX

In other news, CEO Richard L. Gelfond sold 121,220 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $40.10, for a total transaction of $4,860,922.00. Following the completion of the transaction, the chief executive officer directly owned 765,002 shares of the company’s stock, valued at $30,676,580.20. This represents a 13.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Kevin Douglas sold 330,200 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $37.82, for a total value of $12,488,164.00. Following the transaction, the insider owned 3,657,450 shares in the company, valued at $138,324,759. This trade represents a 8.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 689,220 shares of company stock valued at $26,342,682. Corporate insiders own 23.18% of the company’s stock.

About IMAX

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.