IMAX Co. (NYSE:IMAX) Shares Sold by Ion Asset Management Ltd.

Ion Asset Management Ltd. cut its holdings in IMAX Co. (NYSE:IMAX) by 9.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 950,000 shares of the company’s stock after selling 100,000 shares during the period. IMAX comprises approximately 1.4% of Ion Asset Management Ltd.’s holdings, making the stock its 13th biggest position. Ion Asset Management Ltd.’s holdings in IMAX were worth $24,320,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in IMAX. Lord Abbett & CO. LLC lifted its stake in shares of IMAX by 15.1% in the 4th quarter. Lord Abbett & CO. LLC now owns 354,693 shares of the company’s stock worth $9,080,000 after acquiring an additional 46,472 shares during the period. Oberweis Asset Management Inc. boosted its holdings in shares of IMAX by 29.7% during the fourth quarter. Oberweis Asset Management Inc. now owns 579,600 shares of the company’s stock worth $14,838,000 after purchasing an additional 132,600 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of IMAX by 19.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,861 shares of the company’s stock valued at $432,000 after acquiring an additional 2,776 shares in the last quarter. State of Tennessee Department of Treasury raised its stake in shares of IMAX by 19.8% during the 4th quarter. State of Tennessee Department of Treasury now owns 9,827 shares of the company’s stock worth $252,000 after purchasing an additional 1,627 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in IMAX by 415.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company’s stock worth $185,000 after acquiring an additional 5,832 shares in the last quarter. Institutional investors own 93.51% of the company’s stock.

Analyst Ratings Changes

IMAX has been the subject of a number of research reports. Rosenblatt Securities reissued a “buy” rating and issued a $35.00 price target on shares of IMAX in a report on Thursday, April 24th. Barrington Research reiterated an “outperform” rating and set a $32.00 price target on shares of IMAX in a research report on Thursday, April 24th. JPMorgan Chase & Co. lowered their target price on IMAX from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Macquarie raised their price target on IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, StockNews.com upgraded shares of IMAX from a “hold” rating to a “buy” rating in a report on Friday. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $30.56.

IMAX Price Performance

Shares of NYSE:IMAX opened at $23.98 on Tuesday. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 48.94, a P/E/G ratio of 1.49 and a beta of 0.91. IMAX Co. has a 1 year low of $14.94 and a 1 year high of $27.77. The business’s 50-day moving average is $24.63 and its 200-day moving average is $24.38.

IMAX (NYSE:IMAX) last posted its earnings results on Wednesday, April 23rd. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $86.67 million during the quarter, compared to the consensus estimate of $82.95 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 earnings per share. Analysts anticipate that IMAX Co. will post 0.91 EPS for the current year.

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.