IMAX Co. (NYSE:IMAX) Short Interest Update

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

Wall Street Analysts Forecast Growth

IMAX has been the subject of several recent research reports. Seaport Res Ptn upgraded IMAX to a “strong-buy” rating in a research report on Wednesday, July 24th. Barrington Research reissued an “outperform” rating and set a $24.00 price target on shares of IMAX in a report on Thursday, October 31st. Roth Mkm lifted their price target on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased their price target on IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $28.00 price objective on shares of IMAX in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, IMAX presently has an average rating of “Moderate Buy” and an average target price of $24.22.

Institutional Investors Weigh In On IMAX

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

IMAX Stock Up 0.6 %

Shares of IMAX opened at $24.36 on Tuesday. The firm’s fifty day moving average is $21.44 and its two-hundred day moving average is $19.30. The stock has a market cap of $1.28 billion, a PE ratio of 55.36, 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 quarterly earnings data on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. The company had revenue of $91.50 million during the quarter, compared to the consensus estimate of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. IMAX’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. As a group, research analysts anticipate that IMAX will post 0.76 earnings per share 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.