UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 21,615 Shares of IMAX Co. (NYSE:IMAX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of IMAX Co. (NYSE:IMAX) by 21.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 79,021 shares of the company’s stock after selling 21,615 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in IMAX were worth $1,621,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IMAX. Victory Capital Management Inc. grew its holdings in shares of IMAX by 33.1% during the second quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock worth $21,687,000 after purchasing an additional 321,506 shares in the last quarter. Mizuho Markets Americas LLC lifted its position in IMAX by 47.5% during the third quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock valued at $7,952,000 after purchasing an additional 124,811 shares during the last quarter. American Century Companies Inc. grew its stake in IMAX by 57.0% in the 2nd quarter. American Century Companies Inc. now owns 120,021 shares of the company’s stock worth $2,013,000 after buying an additional 43,584 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of IMAX by 90.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after buying an additional 279,410 shares during the last quarter. Finally, Foundry Partners LLC raised its position in shares of IMAX by 46.8% during the 2nd quarter. Foundry Partners LLC now owns 182,200 shares of the company’s stock valued at $3,055,000 after buying an additional 58,115 shares in the last quarter. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

IMAX Stock Down 3.2 %

Shares of NYSE IMAX opened at $25.21 on Tuesday. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 57.30, a PEG ratio of 1.69 and a beta of 1.23. The firm’s fifty day moving average is $23.63 and its 200 day moving average is $20.54. IMAX Co. has a 52 week low of $13.20 and a 52 week high of $26.84.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. The firm 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 company’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 earnings per share. Equities research analysts anticipate that IMAX Co. will post 0.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Roth Mkm upped their target price on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. StockNews.com downgraded IMAX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $28.00 target price on shares of IMAX in a research note on Thursday, October 31st. Finally, Wedbush reissued an “outperform” rating on shares of IMAX in a research note on Wednesday, November 27th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.11.

Insider Buying and Selling at IMAX

In related news, CFO Natasha Fernandes sold 2,957 shares of IMAX stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the sale, the chief financial officer now directly owns 14,883 shares in the company, valued at $379,814.16. The trade was a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert D. Lister sold 55,910 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the completion of the sale, the executive vice president now directly owns 138,889 shares in the company, valued at $3,541,669.50. This represents a 28.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,176 shares of company stock valued at $1,662,110 in the last 90 days. Insiders own 24.08% of the company’s stock.

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.