Quantbot Technologies LP Sells 21,937 Shares of IMAX Co. (NYSE:IMAX)

Quantbot Technologies LP reduced its holdings in IMAX Co. (NYSE:IMAX) by 57.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,967 shares of the company’s stock after selling 21,937 shares during the quarter. Quantbot Technologies LP’s holdings in IMAX were worth $409,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IMAX. Janney Montgomery Scott LLC increased its position in shares of IMAX by 1.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock valued at $747,000 after purchasing an additional 533 shares during the last quarter. Blue Trust Inc. raised its stake in shares of IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after acquiring an additional 561 shares in the last quarter. Quarry LP raised its stake in shares of IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after acquiring an additional 2,350 shares in the last quarter. Hedges Asset Management LLC lifted its stake in IMAX by 3.1% in the fourth quarter. Hedges Asset Management LLC now owns 83,600 shares of the company’s stock worth $2,140,000 after purchasing an additional 2,500 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in IMAX by 60.3% during the 4th quarter. US Bancorp DE now owns 12,276 shares of the company’s stock valued at $314,000 after acquiring an additional 4,620 shares during the period. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $32.00 price objective on shares of IMAX in a report on Thursday, February 20th. Barrington Research upped their price target on IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Benchmark reissued a “buy” rating and set a $30.00 price objective on shares of IMAX in a research report on Thursday, February 20th. Wells Fargo & Company upped their target price on shares of IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

IMAX Stock Performance

IMAX opened at $26.08 on Friday. The company’s 50-day simple moving average is $25.23 and its two-hundred day simple moving average is $23.82. The stock has a market capitalization of $1.38 billion, a P/E ratio of 53.23, a P/E/G ratio of 1.49 and a beta of 1.22. IMAX Co. has a 52-week low of $14.94 and a 52-week high of $27.77.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 earnings per share 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 the consensus estimate of $104.08 million. Research analysts forecast that IMAX Co. will post 0.91 EPS for the current fiscal 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.