Royce & Associates LP Boosts Position in IMAX Co. (NYSE:IMAX)

Royce & Associates LP boosted its position in shares of IMAX Co. (NYSE:IMAX) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,822,616 shares of the company’s stock after acquiring an additional 54,850 shares during the quarter. Royce & Associates LP’s holdings in IMAX were worth $37,382,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of IMAX. Huntington National Bank purchased a new stake in IMAX in the third quarter worth about $34,000. Victory Capital Management Inc. increased its position in 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. US Bancorp DE increased its position in IMAX by 23.4% in the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock worth $157,000 after buying an additional 1,452 shares in the last quarter. nVerses Capital LLC purchased a new stake in IMAX in the third quarter worth about $70,000. Finally, Lombard Odier Asset Management USA Corp purchased a new stake in IMAX in the second quarter worth about $300,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wedbush upped their price target on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Barrington Research reaffirmed an “outperform” rating and issued a $24.00 price objective on shares of IMAX in a research note on Thursday, October 31st. Seaport Res Ptn raised IMAX to a “strong-buy” rating in a research note on Wednesday, July 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $28.00 price objective on shares of IMAX in a research note on Thursday, October 31st. Finally, Macquarie upped their price objective on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, IMAX has an average rating of “Moderate Buy” and a consensus target price of $24.22.

IMAX Trading Up 1.3 %

Shares of IMAX stock opened at $24.56 on Friday. The stock has a 50 day moving average of $21.31 and a 200 day moving average of $19.15. IMAX Co. has a 12 month low of $13.20 and a 12 month high of $25.28. The firm has a market cap of $1.29 billion, a PE ratio of 55.82, a PEG ratio of 1.59 and a beta of 1.22.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.12. The business had revenue of $91.50 million during the quarter, compared to analyst estimates of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period last year, the company earned $0.27 EPS. As a group, equities research analysts forecast that IMAX Co. will post 0.76 earnings per share for the current fiscal 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.