Fmr LLC Boosts Holdings in IMAX Co. (NYSE:IMAX)

Fmr LLC increased its holdings in IMAX Co. (NYSE:IMAX) by 108.4% in the third quarter, Holdings Channel.com reports. The firm owned 3,949,643 shares of the company’s stock after acquiring an additional 2,054,031 shares during the period. Fmr LLC owned approximately 0.07% of IMAX worth $81,007,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Huntington National Bank purchased a new position in IMAX in the 3rd quarter worth approximately $34,000. Headlands Technologies LLC bought a new position in shares of IMAX in the second quarter worth approximately $35,000. nVerses Capital LLC bought a new position in shares of IMAX in the third quarter worth approximately $70,000. Summit Securities Group LLC purchased a new position in shares of IMAX in the second quarter worth $80,000. Finally, US Bancorp DE raised its holdings in 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 buying an additional 1,452 shares during the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on IMAX shares. Barrington Research restated an “outperform” rating and issued a $24.00 price objective on shares of IMAX in a research report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price target on IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Wedbush reiterated an “outperform” rating on shares of IMAX in a report on Wednesday, November 27th. StockNews.com lowered IMAX from a “buy” rating to a “hold” rating in a research report on Friday, November 29th. Finally, Rosenblatt Securities restated a “buy” rating and set a $28.00 target price on shares of IMAX in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.22.

IMAX Stock Up 2.3 %

NYSE IMAX opened at $26.22 on Friday. The stock’s 50 day moving average is $22.71 and its 200 day moving average is $20.00. The firm has a market capitalization of $1.38 billion, a PE ratio of 58.27, a P/E/G ratio of 1.71 and a beta of 1.23. IMAX Co. has a twelve month low of $13.20 and a twelve month high of $26.84.

IMAX (NYSE:IMAX) last released its earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The firm had revenue of $91.50 million for the quarter, compared to the consensus estimate of $93.71 million. During the same period in the prior year, the firm earned $0.27 EPS. The company’s revenue was down 11.9% compared to the same quarter last year. On average, research analysts anticipate that IMAX Co. will post 0.77 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.