Huntington National Bank Takes $34,000 Position in IMAX Co. (NYSE:IMAX)

Huntington National Bank purchased a new stake in shares of IMAX Co. (NYSE:IMAX) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,635 shares of the company’s stock, valued at approximately $34,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IMAX. Headlands Technologies LLC bought a new position in IMAX during the second quarter worth about $35,000. nVerses Capital LLC acquired a new stake in shares of IMAX in the third quarter valued at approximately $70,000. Summit Securities Group LLC bought a new stake in shares of IMAX in the second quarter valued at approximately $80,000. Laurus Investment Counsel Inc. acquired a new stake in IMAX during the second quarter worth approximately $150,000. Finally, US Bancorp DE lifted its position in shares of IMAX by 23.4% during the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after acquiring an additional 1,452 shares during the period. 93.51% of the stock is owned by institutional investors.

IMAX Trading Up 2.3 %

IMAX opened at $24.90 on Wednesday. IMAX Co. has a 12-month low of $13.20 and a 12-month high of $25.28. The stock has a 50-day moving average price of $21.52 and a 200-day moving average price of $19.35. The stock has a market capitalization of $1.31 billion, a P/E ratio of 56.59, a PEG 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, topping the consensus estimate of $0.23 by $0.12. The firm had revenue of $91.50 million for the quarter, compared to analysts’ expectations of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The business’s revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the business earned $0.27 earnings per share. On average, equities research analysts predict that IMAX Co. will post 0.76 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on IMAX shares. StockNews.com raised IMAX from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Rosenblatt Securities restated a “buy” rating and set a $28.00 price objective on shares of IMAX in a research report on Thursday, October 31st. Barrington Research restated an “outperform” rating and issued a $24.00 price target on shares of IMAX in a research note on Thursday, October 31st. Seaport Res Ptn upgraded IMAX to a “strong-buy” rating in a research report on Wednesday, July 24th. Finally, Roth Mkm raised their price objective on shares of IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $24.22.

IMAX Company Profile

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.