Foundry Partners LLC Increases Holdings in IMAX Co. (NYSE:IMAX)

Foundry Partners LLC boosted its holdings in IMAX Co. (NYSE:IMAX) by 21.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 221,295 shares of the company’s stock after buying an additional 39,095 shares during the period. Foundry Partners LLC’s holdings in IMAX were worth $4,539,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IMAX. Victory Capital Management Inc. grew its position in shares of IMAX by 33.1% during the second quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock valued at $21,687,000 after purchasing an additional 321,506 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of IMAX by 90.6% during the second quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock valued at $9,856,000 after buying an additional 279,410 shares during the last quarter. Mizuho Markets Americas LLC boosted its holdings in IMAX by 47.5% in the third quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock valued at $7,952,000 after purchasing an additional 124,811 shares during the last quarter. Pembroke Management LTD raised its position in shares of IMAX by 35.2% in the second quarter. Pembroke Management LTD now owns 474,761 shares of the company’s stock worth $7,962,000 after acquiring an additional 123,648 shares during the period. Finally, Private Capital Management LLC raised its position in shares of IMAX by 10.0% during the 1st quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock worth $21,092,000 after purchasing an additional 118,649 shares during the last quarter. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

IMAX Stock Down 0.7 %

IMAX stock opened at $24.60 on Friday. The business’s 50-day moving average price is $21.68 and its two-hundred day moving average price is $19.43. IMAX Co. has a 12-month low of $13.20 and a 12-month high of $25.28. The stock has a market cap of $1.30 billion, a PE ratio of 55.90, a P/E/G ratio of 1.63 and a beta of 1.22.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.23 by $0.12. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The firm had revenue of $91.50 million during the quarter, compared to the consensus estimate of $93.71 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s quarterly revenue was down 11.9% on a year-over-year basis. As a group, analysts expect that IMAX Co. will post 0.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IMAX shares. Rosenblatt Securities reissued a “buy” rating and issued a $28.00 price target on shares of IMAX in a research note on Thursday, October 31st. JPMorgan Chase & Co. raised their price objective on shares of IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Barrington Research reissued an “outperform” rating and set a $24.00 price objective on shares of IMAX in a report on Thursday, October 31st. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Macquarie boosted their price objective 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. One 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 assigned a strong buy rating to the stock. According to MarketBeat, IMAX presently has an average rating of “Moderate Buy” and an average price target of $24.22.

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.