IMAX Co. (NYSE:IMAX) Shares Sold by Royce & Associates LP

Royce & Associates LP cut its position in IMAX Co. (NYSE:IMAX) by 2.8% during the fourth quarter, Holdings Channel reports. The firm owned 1,771,058 shares of the company’s stock after selling 51,558 shares during the period. Royce & Associates LP’s holdings in IMAX were worth $45,339,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC increased its holdings in shares of IMAX by 1.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock valued at $747,000 after purchasing an additional 533 shares during the period. Blue Trust Inc. grew its holdings in IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after acquiring an additional 561 shares during the period. US Bancorp DE grew its holdings in IMAX by 23.4% during the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock worth $157,000 after acquiring an additional 1,452 shares during the period. Huntington National Bank acquired a new stake in IMAX during the third quarter worth about $34,000. Finally, Quarry LP grew its holdings in IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after acquiring an additional 2,350 shares during the period. 93.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on IMAX shares. Macquarie raised their target price on IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Wedbush reaffirmed an “outperform” rating and set a $32.00 target price on shares of IMAX in a report on Thursday, February 20th. JPMorgan Chase & Co. raised their target price on IMAX from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Rosenblatt Securities raised their target price on IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Barrington Research raised their price objective on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.67.

IMAX Price Performance

NYSE IMAX opened at $24.09 on Friday. The company has a market cap of $1.28 billion, a PE ratio of 49.16, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The stock’s 50 day simple moving average is $24.62 and its 200-day simple moving average is $23.48. IMAX Co. has a 1-year low of $14.94 and a 1-year high of $27.77.

IMAX (NYSE:IMAX) last released its earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.14). The firm had revenue of $92.67 million during the quarter, compared to analysts’ expectations of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. On average, equities research analysts anticipate that IMAX Co. will post 0.91 EPS for the current fiscal 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.