IMAX Co. (NYSE:IMAX) Short Interest Update

IMAX Co. (NYSE:IMAX) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 4,680,000 shares, a growth of 12.8% from the December 15th total of 4,150,000 shares. Currently, 11.1% of the shares of the stock are short sold. Based on an average daily volume of 617,100 shares, the days-to-cover ratio is currently 7.6 days.

Analyst Upgrades and Downgrades

IMAX has been the subject of several analyst reports. StockNews.com downgraded IMAX from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. increased their target price on IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Roth Mkm lifted their price target on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Benchmark reiterated a “buy” rating and set a $30.00 price objective on shares of IMAX in a report on Friday. Finally, Barrington Research restated an “outperform” rating and issued a $30.00 target price on shares of IMAX in a report on Friday, January 10th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.13.

IMAX Trading Up 3.6 %

Shares of IMAX stock opened at $23.21 on Monday. The company’s fifty day simple moving average is $24.88 and its 200-day simple moving average is $21.91. IMAX has a 52 week low of $13.20 and a 52 week high of $26.84. The company has a market cap of $1.22 billion, a PE ratio of 52.74, a P/E/G ratio of 1.25 and a beta of 1.24.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. The company had revenue of $91.50 million for the quarter, compared to analysts’ expectations of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Equities research analysts expect that IMAX will post 0.77 EPS for the current fiscal year.

Insider Activity

In related news, EVP Robert D. Lister sold 55,910 shares of the stock in a transaction on 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 sale, the executive vice president now owns 138,889 shares of the company’s stock, valued at $3,541,669.50. This trade represents a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Natasha Fernandes sold 2,957 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.52, for a total transaction of $75,462.64. Following the completion of the transaction, the chief financial officer now directly owns 14,883 shares of the company’s stock, valued at $379,814.16. The trade was a 16.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,176 shares of company stock worth $1,662,110 over the last ninety days. 24.08% of the stock is currently owned by insiders.

Institutional Trading of IMAX

A number of hedge funds have recently made changes to their positions in IMAX. Huntington National Bank acquired a new stake in IMAX during the 3rd quarter valued at $34,000. Quarry LP boosted its position in IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after buying an additional 2,350 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of IMAX during the third quarter valued at about $70,000. US Bancorp DE lifted its stake in shares of 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 acquiring an additional 1,452 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in IMAX in the third quarter valued at about $205,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

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.