Wealthfront Advisers LLC Buys Shares of 8,463 IMAX Co. (NYSE:IMAX)

Wealthfront Advisers LLC bought a new stake in shares of IMAX Co. (NYSE:IMAX) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 8,463 shares of the company’s stock, valued at approximately $217,000.

Other large investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of IMAX in the 4th quarter worth approximately $9,143,000. Proficio Capital Partners LLC acquired a new position in shares of IMAX in the 4th quarter worth approximately $502,000. Cornerstone Investment Partners LLC acquired a new position in shares of IMAX in the 4th quarter worth approximately $248,000. US Bancorp DE grew its stake in shares of IMAX by 60.3% in the 4th quarter. US Bancorp DE now owns 12,276 shares of the company’s stock worth $314,000 after purchasing an additional 4,620 shares during the last quarter. Finally, Impact Investors Inc acquired a new position in shares of IMAX in the 4th quarter worth approximately $763,000. Institutional investors own 93.51% of the company’s stock.

Analysts Set New Price Targets

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

IMAX Stock Performance

Shares of IMAX opened at $24.84 on Tuesday. The company’s 50 day moving average price is $24.64 and its 200 day moving average price is $23.53. IMAX Co. has a 52 week low of $14.94 and a 52 week high of $27.77. The company has a market capitalization of $1.32 billion, a PE ratio of 50.69, a PEG ratio of 1.49 and a beta of 1.22.

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