IMAX Co. (NYSE:IMAX) Short Interest Update

IMAX Co. (NYSE:IMAX) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 4,770,000 shares, a decline of 5.9% from the October 15th total of 5,070,000 shares. Currently, 11.3% of the shares of the company are sold short. Based on an average daily volume of 641,200 shares, the short-interest ratio is currently 7.4 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IMAX. FMR LLC raised its stake in IMAX by 108.4% during the 3rd quarter. FMR LLC now owns 3,949,643 shares of the company’s stock valued at $81,007,000 after purchasing an additional 2,054,031 shares during the period. Royce & Associates LP raised its position in shares of IMAX by 3.1% during the third quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock valued at $37,382,000 after buying an additional 54,850 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of IMAX by 9.8% in the third quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company’s stock worth $29,136,000 after buying an additional 127,371 shares in the last quarter. Private Capital Management LLC lifted its holdings in shares of IMAX by 10.0% in the first quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock worth $21,092,000 after buying an additional 118,649 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of IMAX by 5.5% during the second quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company’s stock worth $13,740,000 after acquiring an additional 42,952 shares during the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IMAX. Barrington Research reissued an “outperform” rating and set a $24.00 price target on shares of IMAX in a report on Thursday, October 31st. Rosenblatt Securities reissued a “buy” rating and issued a $28.00 target price on shares of IMAX in a report on Thursday, October 31st. Macquarie boosted their price target on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. upped their price target on shares of IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Seaport Res Ptn raised shares of IMAX to a “strong-buy” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.22.

IMAX Stock Up 2.3 %

NYSE IMAX opened at $24.90 on Wednesday. The stock’s 50-day moving average price is $21.52 and its 200-day moving average price is $19.35. The company has a market capitalization of $1.31 billion, a P/E ratio of 56.59, a price-to-earnings-growth ratio of 1.59 and a beta of 1.22. IMAX has a 52 week low of $13.20 and a 52 week high of $25.28.

IMAX (NYSE:IMAX) last released its earnings results on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. The company had revenue of $91.50 million for the quarter, compared to analysts’ expectations of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The firm’s revenue was down 11.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.27 EPS. Research analysts anticipate that IMAX will post 0.76 EPS for the current year.

IMAX Company 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.