US Bancorp DE Boosts Stake in IMAX Co. (NYSE:IMAX)

US Bancorp DE boosted its stake in shares of IMAX Co. (NYSE:IMAX) by 60.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,276 shares of the company’s stock after buying an additional 4,620 shares during the period. US Bancorp DE’s holdings in IMAX were worth $314,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of IMAX. Blue Trust Inc. lifted its holdings in shares of IMAX by 138.5% during the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after purchasing an additional 561 shares during the last quarter. Huntington National Bank purchased a new stake in shares of IMAX during the 3rd quarter valued at $34,000. Quarry LP lifted its holdings in shares of IMAX by 78,333.3% during the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after purchasing an additional 2,350 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of IMAX during the 3rd quarter valued at $205,000. Finally, Savant Capital LLC purchased a new stake in shares of IMAX during the 4th quarter valued at $249,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on IMAX. Wedbush reiterated an “outperform” rating and set a $32.00 price objective on shares of IMAX in a report on Thursday, February 20th. StockNews.com lowered IMAX from a “buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. upped their target price on IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Wells Fargo & Company upped their target price on IMAX from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Finally, Macquarie upped their target price on IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Two research 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.67.

IMAX Stock Performance

Shares of IMAX opened at $23.81 on Friday. The business’s 50-day moving average is $24.67 and its two-hundred day moving average is $23.45. The company has a market capitalization of $1.26 billion, a P/E ratio of 48.58, a P/E/G ratio of 1.49 and a beta of 1.22. IMAX Co. has a fifty-two week low of $14.94 and a fifty-two week high of $27.77.

IMAX (NYSE:IMAX) last announced its quarterly 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 company had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. Analysts forecast that IMAX Co. will post 0.91 EPS for the current year.

About IMAX

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.