Y Intercept Hong Kong Ltd Makes New Investment in IMAX Corporation $IMAX

Y Intercept Hong Kong Ltd acquired a new position in shares of IMAX Corporation (NYSE:IMAX) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 62,363 shares of the company’s stock, valued at approximately $2,370,000. Y Intercept Hong Kong Ltd owned about 0.12% of IMAX at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. CIBC Private Wealth Group LLC acquired a new stake in shares of IMAX in the third quarter valued at about $27,000. Quarry LP grew its stake in IMAX by 166.8% in the fourth quarter. Quarry LP now owns 875 shares of the company’s stock valued at $32,000 after purchasing an additional 547 shares in the last quarter. Torren Management LLC bought a new position in IMAX in the fourth quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd increased its position in shares of IMAX by 2,310.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,157 shares of the company’s stock worth $38,000 after purchasing an additional 1,109 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd increased its position in shares of IMAX by 863.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,666 shares of the company’s stock worth $62,000 after purchasing an additional 1,493 shares during the last quarter. Institutional investors own 93.51% of the company’s stock.

Wall Street Analysts Forecast Growth

IMAX has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $60.00 price objective on shares of IMAX in a research note on Friday, May 22nd. Benchmark restated a “buy” rating on shares of IMAX in a report on Monday, June 22nd. Barrington Research upped their price target on shares of IMAX from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Seaport Research Partners reiterated a “buy” rating and issued a $50.00 price target on shares of IMAX in a research note on Wednesday, June 24th. Finally, Weiss Ratings downgraded shares of IMAX from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 23rd. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Insider Transactions at IMAX

In related news, CEO Richard L. Gelfond sold 8,943 shares of the business’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $37.33, for a total value of $333,842.19. Following the completion of the sale, the chief executive officer directly owned 765,002 shares in the company, valued at $28,557,524.66. The trade was a 1.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 340,040 shares of company stock valued at $12,715,513. Insiders own 20.55% of the company’s stock.

IMAX Stock Up 2.9%

Shares of IMAX stock opened at $38.56 on Thursday. The firm has a 50 day moving average price of $39.00 and a two-hundred day moving average price of $37.85. The company has a market capitalization of $2.12 billion, a PE ratio of 59.33, a price-to-earnings-growth ratio of 1.33 and a beta of 0.37. IMAX Corporation has a 12-month low of $24.20 and a 12-month high of $45.52.

IMAX (NYSE:IMAX) last posted its earnings results on Thursday, April 30th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. The company had revenue of $81.38 million for the quarter, compared to the consensus estimate of $79.82 million. IMAX had a return on equity of 13.61% and a net margin of 9.08%.The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.13 earnings per share. As a group, research analysts expect that IMAX Corporation will post 1.34 EPS for the current year.

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.