Atom Investors LP Invests $265,000 in IMAX Co. (NYSE:IMAX)

Atom Investors LP bought a new position in shares of IMAX Co. (NYSE:IMAX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,943 shares of the company’s stock, valued at approximately $265,000.

A number of other large investors have also modified their holdings of IMAX. Huntington National Bank purchased a new stake in shares of IMAX during the third quarter worth $34,000. Headlands Technologies LLC purchased a new stake in shares of IMAX in the second quarter valued at about $35,000. nVerses Capital LLC purchased a new stake in shares of IMAX in the third quarter valued at about $70,000. Summit Securities Group LLC purchased a new stake in shares of IMAX in the second quarter valued at about $80,000. Finally, Laurus Investment Counsel Inc. purchased a new stake in shares of IMAX in the second quarter valued at about $150,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $28.00 price objective on shares of IMAX in a report on Thursday, October 31st. Barrington Research reissued an “outperform” rating and issued a $24.00 price objective on shares of IMAX in a report on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on shares of IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Roth Mkm upped their target price on shares of IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Wedbush reaffirmed an “outperform” rating on shares of IMAX in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.22.

IMAX Stock Performance

Shares of IMAX opened at $25.64 on Thursday. The stock has a market capitalization of $1.35 billion, a PE ratio of 58.27, a P/E/G ratio of 1.74 and a beta of 1.23. IMAX Co. has a 1 year low of $13.20 and a 1 year high of $26.84. The company’s 50-day simple moving average is $22.59 and its 200-day simple moving average is $19.96.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.12. The business 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 business’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 earnings per share. On average, sell-side analysts predict that IMAX Co. will post 0.77 earnings per share for the current year.

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.