IMAX Co. (NYSE:IMAX) Shares Sold by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC decreased its stake in IMAX Co. (NYSE:IMAX) by 21.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,875 shares of the company’s stock after selling 4,490 shares during the period. Angeles Investment Advisors LLC’s holdings in IMAX were worth $346,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Victory Capital Management Inc. raised its position in IMAX by 9.8% during the 3rd 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 during the last quarter. US Bancorp DE raised its position in IMAX by 23.4% during the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company’s stock worth $157,000 after buying an additional 1,452 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of IMAX during the 3rd quarter worth $70,000. Lombard Odier Asset Management USA Corp acquired a new position in shares of IMAX during the 2nd quarter worth $300,000. Finally, Thrivent Financial for Lutherans grew its stake in shares of IMAX by 5.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company’s stock worth $13,740,000 after purchasing an additional 42,952 shares during the period. Institutional investors and hedge funds own 93.51% of the company’s stock.

IMAX Trading Up 0.2 %

Shares of IMAX stock traded up $0.04 during mid-day trading on Wednesday, hitting $24.68. 11,117 shares of the stock were exchanged, compared to its average volume of 769,315. IMAX Co. has a twelve month low of $13.20 and a twelve month high of $25.28. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 56.00, a price-to-earnings-growth ratio of 1.61 and a beta of 1.22. The company has a 50-day simple moving average of $21.20 and a 200 day simple moving average of $19.07.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share 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 analyst estimates of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The company’s revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 EPS. Equities research analysts forecast that IMAX Co. will post 0.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Barrington Research reaffirmed an “outperform” rating and set a $24.00 price target on shares of IMAX in a research note on Thursday, October 31st. StockNews.com raised shares of IMAX from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Macquarie upped their price target on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their price objective on shares of IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Seaport Res Ptn raised shares of IMAX to a “strong-buy” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.22.

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.