Mutual of America Capital Management LLC Reduces Stock Position in IMAX Co. (NYSE:IMAX)

Mutual of America Capital Management LLC cut its holdings in shares of IMAX Co. (NYSE:IMAX) by 4.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 168,829 shares of the company’s stock after selling 7,307 shares during the quarter. Mutual of America Capital Management LLC’s holdings in IMAX were worth $2,831,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. acquired a new position in shares of IMAX in the 4th quarter worth approximately $33,000. Headlands Technologies LLC acquired a new position in shares of IMAX in the 2nd quarter worth approximately $35,000. Summit Securities Group LLC acquired a new position in shares of IMAX in the 2nd quarter worth approximately $80,000. Laurus Investment Counsel Inc. acquired a new position in shares of IMAX in the 2nd quarter worth approximately $150,000. Finally, Partnership Wealth Management LLC grew its position in shares of IMAX by 63.1% in the 1st quarter. Partnership Wealth Management LLC now owns 12,932 shares of the company’s stock worth $209,000 after acquiring an additional 5,005 shares in the last quarter. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

IMAX Price Performance

Shares of IMAX stock opened at $19.74 on Wednesday. The business’s fifty day moving average price is $20.26 and its two-hundred day moving average price is $17.85. The company has a market capitalization of $1.04 billion, a P/E ratio of 41.13, a PEG ratio of 1.48 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 announced its earnings results on Thursday, July 25th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.11. The firm had revenue of $88.96 million for the quarter, compared to the consensus estimate of $74.52 million. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The firm’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 EPS. On average, research analysts expect that IMAX Co. will post 0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IMAX. Rosenblatt Securities lifted their target price on IMAX from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Roth Mkm lifted their target price on IMAX from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Barrington Research restated an “outperform” rating and set a $25.00 price objective on shares of IMAX in a research report on Friday, July 26th. Benchmark restated a “buy” rating and set a $22.00 price objective on shares of IMAX in a research report on Thursday, June 20th. Finally, Seaport Res Ptn upgraded IMAX to a “strong-buy” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.78.

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.