Sei Investments Co. Sells 977 Shares of IMAX Co. (NYSE:IMAX)

Sei Investments Co. lowered its holdings in IMAX Co. (NYSE:IMAX) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,121 shares of the company’s stock after selling 977 shares during the quarter. Sei Investments Co. owned 0.26% of IMAX worth $2,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of IMAX. PNC Financial Services Group Inc. purchased a new position in IMAX in the 4th quarter worth about $33,000. Headlands Technologies LLC bought a new stake in shares of IMAX in the second quarter worth approximately $35,000. Summit Securities Group LLC purchased a new position in shares of IMAX during the second quarter valued at approximately $80,000. Laurus Investment Counsel Inc. bought a new position in IMAX during the second quarter valued at approximately $150,000. Finally, XTX Topco Ltd purchased a new stake in IMAX in the second quarter worth approximately $208,000. 93.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Benchmark reissued a “buy” rating and set a $22.00 price target on shares of IMAX in a report on Thursday, June 20th. Rosenblatt Securities reissued a “buy” rating and issued a $28.00 target price on shares of IMAX in a research report on Friday. B. Riley upped their price target on shares of IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Roth Mkm increased their price objective on shares of IMAX from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Seaport Res Ptn upgraded shares of IMAX to a “strong-buy” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, IMAX presently has an average rating of “Moderate Buy” and a consensus price target of $23.67.

IMAX Price Performance

IMAX opened at $19.51 on Friday. The company has a 50 day simple moving average of $20.57 and a two-hundred day simple moving average of $18.00. The firm has a market cap of $1.03 billion, a P/E ratio of 41.50, a PEG ratio of 1.38 and a beta of 1.25. IMAX Co. has a 1-year low of $13.20 and a 1-year high of $22.13.

IMAX (NYSE:IMAX) last issued its earnings results on Thursday, July 25th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.11. IMAX had a net margin of 5.97% and a return on equity of 7.78%. The company had revenue of $88.96 million during the quarter, compared to the consensus estimate of $74.52 million. During the same quarter in the prior year, the firm posted $0.17 EPS. IMAX’s quarterly revenue was down 9.2% compared to the same quarter last year. Equities analysts anticipate that IMAX Co. will post 0.69 earnings per share for the current year.

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.