IMAX Co. (NYSE:IMAX) Stock Position Raised by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in shares of IMAX Co. (NYSE:IMAX) by 9.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,420,592 shares of the company’s stock after acquiring an additional 127,371 shares during the quarter. Victory Capital Management Inc.’s holdings in IMAX were worth $29,136,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Janney Montgomery Scott LLC raised its holdings in shares of IMAX by 28.0% during the first quarter. Janney Montgomery Scott LLC now owns 33,011 shares of the company’s stock worth $534,000 after acquiring an additional 7,226 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in IMAX by 63.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 20,924 shares of the company’s stock worth $338,000 after buying an additional 8,100 shares during the last quarter. Vanguard Group Inc. increased its position in IMAX by 13.2% during the first quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock worth $9,456,000 after buying an additional 68,155 shares during the last quarter. Acadian Asset Management LLC increased its position in IMAX by 178.7% during the first quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock worth $7,934,000 after buying an additional 314,742 shares during the last quarter. Finally, Keeley Teton Advisors LLC increased its position in IMAX by 16.3% during the first quarter. Keeley Teton Advisors LLC now owns 58,605 shares of the company’s stock worth $948,000 after buying an additional 8,205 shares during the last quarter. 93.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on IMAX. StockNews.com raised shares of IMAX from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Wedbush increased their target price on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Roth Mkm increased their target price on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Rosenblatt Securities reissued a “buy” rating and set a $28.00 target price on shares of IMAX in a research report on Thursday, October 31st. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $24.00 price target on shares of IMAX in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.22.

IMAX Price Performance

IMAX stock opened at $24.21 on Monday. The firm has a 50-day moving average of $21.37 and a 200-day moving average of $19.24. IMAX Co. has a one year low of $13.20 and a one year high of $25.28. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 55.02, a P/E/G ratio of 1.59 and a beta of 1.22.

IMAX (NYSE:IMAX) last issued its earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The business had revenue of $91.50 million during the quarter, compared to the consensus estimate of $93.71 million. During the same period last year, the business posted $0.27 EPS. IMAX’s revenue was down 11.9% on a year-over-year basis. As a group, sell-side analysts expect that IMAX Co. will post 0.76 earnings per share for the current year.

About IMAX

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.