IMAX Co. (NYSE:IMAX) Shares Sold by Connors Investor Services Inc.

Connors Investor Services Inc. lessened its stake in shares of IMAX Co. (NYSE:IMAX) by 3.6% in the 2nd quarter, Holdings Channel reports. The firm owned 166,136 shares of the company’s stock after selling 6,199 shares during the period. Connors Investor Services Inc.’s holdings in IMAX were worth $2,786,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new stake in IMAX during the 2nd quarter worth approximately $35,000. Price T Rowe Associates Inc. MD increased its position in shares of IMAX by 19.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company’s stock worth $212,000 after purchasing an additional 2,153 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in IMAX in the 4th quarter valued at $33,000. Equitable Trust Co. lifted its holdings in IMAX by 12.3% in the 1st quarter. Equitable Trust Co. now owns 40,710 shares of the company’s stock valued at $658,000 after purchasing an additional 4,455 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new stake in IMAX during the 2nd quarter worth $80,000. 93.51% of the stock is owned by hedge funds and other institutional investors.

IMAX Price Performance

Shares of IMAX stock opened at $20.40 on Tuesday. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 42.50, a price-to-earnings-growth ratio of 1.48 and a beta of 1.25. The business has a 50-day moving average of $19.90 and a 200 day moving average of $17.71. IMAX Co. has a 12 month low of $13.20 and a 12 month high of $22.13.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.07 by $0.11. The company 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 7.78%. The firm’s revenue was down 9.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 EPS. Equities research analysts anticipate that IMAX Co. will post 0.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

IMAX has been the subject of a number of recent research reports. Benchmark reiterated a “buy” rating and issued a $22.00 target price on shares of IMAX in a research report on Thursday, June 20th. Wedbush boosted their target price on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price target on shares of IMAX in a report on Friday, July 26th. B. Riley boosted their price objective on IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Finally, Macquarie raised their target price on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, IMAX presently has a consensus rating of “Moderate Buy” and an average target price of $23.78.

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.