IMAX Co. (NYSE:IMAX) Stock Position Lowered by Hedges Asset Management LLC

Hedges Asset Management LLC trimmed its position in shares of IMAX Co. (NYSE:IMAX) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 81,100 shares of the company’s stock after selling 2,000 shares during the period. Hedges Asset Management LLC owned 0.15% of IMAX worth $1,663,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of IMAX. Headlands Technologies LLC purchased a new position in IMAX during the second quarter valued at approximately $35,000. PNC Financial Services Group Inc. purchased a new position in shares of IMAX during the 4th quarter valued at $33,000. nVerses Capital LLC purchased a new stake in shares of IMAX during the third quarter worth $70,000. Summit Securities Group LLC acquired a new stake in IMAX during the second quarter valued at $80,000. Finally, Laurus Investment Counsel Inc. purchased a new position in IMAX in the second quarter valued at about $150,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

IMAX Stock Performance

NYSE IMAX opened at $20.49 on Monday. The stock has a market capitalization of $1.08 billion, a PE ratio of 51.23, a P/E/G ratio of 1.52 and a beta of 1.25. The stock has a 50-day simple moving average of $20.60 and a 200 day simple moving average of $18.52. IMAX Co. has a twelve month low of $13.20 and a twelve month high of $22.13.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. The company had revenue of $88.96 million during the quarter, compared to analyst estimates of $74.52 million. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 earnings per share. As a group, equities research analysts forecast that IMAX Co. will post 0.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wedbush increased their price objective on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Roth Mkm restated a “buy” rating and set a $27.00 price target on shares of IMAX in a report on Thursday, October 10th. Seaport Res Ptn upgraded shares of IMAX to a “strong-buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted 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 reissued a “buy” rating and set a $28.00 price objective on shares of IMAX in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, IMAX presently has a consensus rating of “Moderate Buy” and an average price target of $24.11.

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.