IMAX Co. (NYSE:IMAX) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC raised its stake in IMAX Co. (NYSE:IMAX) by 65.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,868 shares of the company’s stock after purchasing an additional 4,699 shares during the quarter. SG Americas Securities LLC’s holdings in IMAX were worth $178,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its stake in shares of IMAX by 164.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the company’s stock valued at $46,000 after acquiring an additional 2,029 shares during the period. SRS Capital Advisors Inc. raised its stake in shares of IMAX by 11.1% in the 1st quarter. SRS Capital Advisors Inc. now owns 6,492 shares of the company’s stock valued at $125,000 after acquiring an additional 650 shares during the period. State of Wyoming purchased a new position in shares of IMAX in the 2nd quarter valued at $151,000. Engineers Gate Manager LP purchased a new position in shares of IMAX in the 3rd quarter valued at $152,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of IMAX in the 3rd quarter valued at $160,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

Insider Activity

In other news, VP Robert D. Lister sold 25,000 shares of IMAX stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the completion of the transaction, the vice president now directly owns 138,889 shares of the company’s stock, valued at approximately $2,343,057.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 24.33% of the company’s stock.

IMAX Stock Performance

IMAX opened at $16.43 on Monday. The company has a 50-day moving average of $15.81 and a 200-day moving average of $16.18. The company has a market capitalization of $869.97 million, a P/E ratio of 35.72, a PEG ratio of 1.42 and a beta of 1.25. IMAX Co. has a 1-year low of $13.20 and a 1-year high of $21.82.

IMAX (NYSE:IMAX) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.05 by $0.12. IMAX had a net margin of 6.76% and a return on equity of 9.59%. The business had revenue of $86.02 million during the quarter, compared to analyst estimates of $85.83 million. During the same period in the previous year, the business posted $0.05 EPS. The company’s quarterly revenue was down 12.3% on a year-over-year basis. As a group, sell-side analysts expect that IMAX Co. will post 0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a research note on Saturday, January 27th. Rosenblatt Securities dropped their price target on shares of IMAX from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, February 13th. B. Riley dropped their price target on shares of IMAX from $27.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. dropped their price target on shares of IMAX from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. Finally, The Goldman Sachs Group dropped their target price on shares of IMAX from $15.00 to $13.00 and set a “sell” rating for the company in a research report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.57.

IMAX 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.