Impact Investors Inc Buys New Shares in IMAX Co. (NYSE:IMAX)

Impact Investors Inc purchased a new stake in shares of IMAX Co. (NYSE:IMAX) during the fourth quarter, Holdings Channel.com reports. The firm purchased 29,793 shares of the company’s stock, valued at approximately $763,000.

A number of other hedge funds also recently modified their holdings of the business. Principal Financial Group Inc. lifted its position in shares of IMAX by 69.3% in the fourth quarter. Principal Financial Group Inc. now owns 103,946 shares of the company’s stock worth $2,661,000 after purchasing an additional 42,562 shares in the last quarter. Blue Trust Inc. boosted its holdings in IMAX by 138.5% in the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after purchasing an additional 561 shares in the last quarter. Savant Capital LLC acquired a new position in IMAX during the fourth quarter worth $249,000. Calamos Advisors LLC acquired a new stake in shares of IMAX in the fourth quarter worth about $351,000. Finally, Hedges Asset Management LLC lifted its holdings in IMAX by 3.1% in the 4th quarter. Hedges Asset Management LLC now owns 83,600 shares of the company’s stock worth $2,140,000 after purchasing an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IMAX. Wedbush reiterated an “outperform” rating and issued a $32.00 price objective on shares of IMAX in a research note on Thursday, February 20th. Rosenblatt Securities upped their price target on IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. increased their price objective on IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. StockNews.com cut shares of IMAX from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, Benchmark reaffirmed a “buy” rating and issued a $30.00 target price on shares of IMAX in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, IMAX has an average rating of “Moderate Buy” and an average target price of $30.67.

IMAX Stock Performance

Shares of IMAX stock opened at $26.40 on Wednesday. The firm’s 50 day moving average price is $24.69 and its two-hundred day moving average price is $23.12. IMAX Co. has a 52-week low of $14.94 and a 52-week high of $27.77. The stock has a market cap of $1.40 billion, a PE ratio of 53.87, a PEG ratio of 1.49 and a beta of 1.22.

IMAX (NYSE:IMAX) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.14). The company had revenue of $92.67 million during the quarter, compared to the consensus estimate of $104.08 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. As a group, sell-side analysts predict that IMAX Co. will post 0.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other IMAX news, insider Kenneth Ian Weissman sold 6,309 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the sale, the insider now directly owns 25,139 shares in the company, valued at approximately $641,295.89. This trade represents a 20.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Robert D. Lister sold 55,910 shares of the firm’s stock in a transaction 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 sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,176 shares of company stock worth $1,662,110. Insiders own 24.08% of the company’s stock.

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.