IMAX Co. (NYSE:IMAX) Short Interest Update

IMAX Co. (NYSE:IMAX) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 4,680,000 shares, a growth of 12.8% from the December 15th total of 4,150,000 shares. Currently, 11.1% of the shares of the company are sold short. Based on an average daily volume of 617,100 shares, the short-interest ratio is currently 7.6 days.

Analysts Set New Price Targets

IMAX has been the topic of a number of recent research reports. Roth Mkm upped their target price on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Rosenblatt Securities restated a “buy” rating and issued a $28.00 price objective on shares of IMAX in a research report on Thursday. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Barrington Research reissued an “outperform” rating and set a $30.00 price target on shares of IMAX in a report on Friday, January 10th. Finally, Benchmark reaffirmed a “buy” rating and issued a $30.00 price objective on shares of IMAX in a report on Friday. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.13.

Insider Activity

In related news, EVP Robert D. Lister sold 55,910 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the completion of the transaction, the executive vice president now directly owns 138,889 shares in the company, valued at $3,541,669.50. The trade was a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Natasha Fernandes sold 2,957 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.52, for a total transaction of $75,462.64. Following the completion of the sale, the chief financial officer now directly owns 14,883 shares in the company, valued at approximately $379,814.16. The trade was a 16.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,176 shares of company stock valued at $1,662,110. Company insiders own 24.08% of the company’s stock.

Institutional Trading of IMAX

A number of institutional investors have recently made changes to their positions in IMAX. Mizuho Markets Americas LLC lifted its holdings in IMAX by 47.5% in the 3rd 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 in the last quarter. American Century Companies Inc. raised its position in shares of IMAX by 57.0% in the second quarter. American Century Companies Inc. now owns 120,021 shares of the company’s stock valued at $2,013,000 after buying an additional 43,584 shares during the last quarter. Royce & Associates LP raised its position in shares of IMAX by 3.1% in the third quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock valued at $37,382,000 after buying an additional 54,850 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of IMAX in the third quarter worth about $777,000. Finally, Lord Abbett & CO. LLC acquired a new position in IMAX during the third quarter worth about $6,322,000. 93.51% of the stock is owned by institutional investors and hedge funds.

IMAX Stock Performance

NYSE:IMAX opened at $23.21 on Monday. The company has a fifty day moving average of $24.88 and a two-hundred day moving average of $21.91. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $26.84. The stock has a market capitalization of $1.22 billion, a PE ratio of 52.74, a P/E/G ratio of 1.25 and a beta of 1.24.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The firm had revenue of $91.50 million for the quarter, compared to analyst estimates of $93.71 million. During the same period last year, the company posted $0.27 EPS. IMAX’s quarterly revenue was down 11.9% compared to the same quarter last year. Research analysts forecast that IMAX will post 0.77 earnings per share for the current year.

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.