Quarry LP Acquires 2,350 Shares of IMAX Co. (NYSE:IMAX)

Quarry LP grew its holdings in IMAX Co. (NYSE:IMAX) by 78,333.3% during the third quarter, Holdings Channel.com reports. The firm owned 2,353 shares of the company’s stock after acquiring an additional 2,350 shares during the period. Quarry LP’s holdings in IMAX were worth $48,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. FMR LLC grew its holdings in IMAX by 108.4% during the 3rd quarter. FMR LLC now owns 3,949,643 shares of the company’s stock worth $81,007,000 after acquiring an additional 2,054,031 shares during the last quarter. Royce & Associates LP lifted its position in shares of IMAX by 3.1% during the third quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock worth $37,382,000 after purchasing an additional 54,850 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of IMAX by 9.8% during the third quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company’s stock valued at $29,136,000 after purchasing an additional 127,371 shares during the last quarter. Private Capital Management LLC increased its holdings in shares of IMAX by 10.0% in the first quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock valued at $21,092,000 after purchasing an additional 118,649 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in IMAX by 5.5% in 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 last quarter. Institutional investors own 93.51% of the company’s stock.

Insider Buying and Selling at IMAX

In related news, insider Kenneth Ian Weissman sold 6,309 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.51, for a total transaction of $160,942.59. Following the sale, the insider now owns 25,139 shares in the company, valued at approximately $641,295.89. This represents a 20.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert D. Lister sold 55,910 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.50, for a total value of $1,425,705.00. Following the transaction, the executive vice president now directly owns 138,889 shares in the company, valued at $3,541,669.50. This trade represents a 28.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,176 shares of company stock worth $1,662,110. Insiders own 24.08% of the company’s stock.

IMAX Stock Up 1.1 %

Shares of NYSE IMAX opened at $25.84 on Wednesday. IMAX Co. has a twelve month low of $13.20 and a twelve month high of $26.84. The company’s fifty day moving average is $23.16 and its 200-day moving average is $20.28. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 58.73, a P/E/G ratio of 1.68 and a beta of 1.23.

IMAX (NYSE:IMAX) last released its earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $93.71 million. During the same quarter in the prior year, the company earned $0.27 EPS. The company’s revenue was down 11.9% on a year-over-year basis. On average, research analysts anticipate that IMAX Co. will post 0.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on IMAX shares. Rosenblatt Securities reissued a “buy” rating and issued a $28.00 target price on shares of IMAX in a research note on Thursday, October 31st. Roth Mkm boosted their price objective on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price 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. Wedbush reissued an “outperform” rating on shares of IMAX in a research note on Wednesday, November 27th. Finally, StockNews.com cut shares of IMAX from a “buy” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.22.

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.