Gamco Investors INC. ET AL Sells 26,518 Shares of IMAX Co. (NYSE:IMAX)

Gamco Investors INC. ET AL decreased its stake in shares of IMAX Co. (NYSE:IMAX) by 30.1% during the first quarter, HoldingsChannel reports. The firm owned 61,505 shares of the company’s stock after selling 26,518 shares during the quarter. Gamco Investors INC. ET AL’s holdings in IMAX were worth $995,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. bought a new stake in shares of IMAX during the 4th quarter valued at about $33,000. Tower Research Capital LLC TRC boosted its stake in shares of IMAX by 545.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock valued at $75,000 after purchasing an additional 4,218 shares in the last quarter. Partnership Wealth Management LLC bought a new stake in shares of IMAX during the 4th quarter valued at about $111,000. SG Americas Securities LLC boosted its stake in shares of IMAX by 65.5% during the 4th quarter. SG Americas Securities LLC now owns 11,868 shares of the company’s stock valued at $178,000 after purchasing an additional 4,699 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of IMAX during the 1st quarter valued at about $222,000. Institutional investors own 93.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on IMAX shares. Roth Mkm lifted their price target on shares of IMAX from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Friday. Seaport Res Ptn raised shares of IMAX to a “strong-buy” rating in a research report on Wednesday. Barrington Research reissued an “outperform” rating and set a $25.00 price target on shares of IMAX in a research report on Friday. Wedbush lifted their price target on shares of IMAX from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Macquarie lifted their price target on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday. One 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.56.

IMAX Stock Up 3.6 %

IMAX stock traded up $0.69 during trading hours on Friday, hitting $20.09. The stock had a trading volume of 2,156,796 shares, compared to its average volume of 706,442. The stock has a market capitalization of $1.06 billion, a P/E ratio of 41.86, a price-to-earnings-growth ratio of 1.75 and a beta of 1.26. IMAX Co. has a 12-month low of $13.20 and a 12-month high of $20.70. The stock’s 50-day moving average price is $16.75 and its 200-day moving average price is $16.14.

IMAX (NYSE:IMAX) last issued its earnings results on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.11. The business had revenue of $88.96 million during the quarter, compared to analysts’ expectations of $74.52 million. IMAX had a net margin of 5.97% and a return on equity of 7.77%. The business’s revenue for the quarter 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. On average, research analysts expect that IMAX Co. will post 0.56 EPS for the current fiscal year.

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.