Peregrine Capital Management LLC lifted its stake in shares of Imax Corporation (NYSE:IMAX) by 17.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,083,133 shares of the company’s stock after purchasing an additional 162,301 shares during the period. Peregrine Capital Management LLC owned approximately 1.67% of Imax Corporation worth $24,533,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. TimesSquare Capital Management LLC acquired a new position in Imax Corporation during the second quarter valued at $84,137,000. BlackRock Inc. raised its position in Imax Corporation by 54,861.2% during the first quarter. BlackRock Inc. now owns 2,607,357 shares of the company’s stock valued at $88,651,000 after buying an additional 2,602,613 shares during the period. Franklin Resources Inc. raised its position in Imax Corporation by 33.4% during the second quarter. Franklin Resources Inc. now owns 5,063,469 shares of the company’s stock valued at $111,412,000 after buying an additional 1,266,939 shares during the period. Pembroke Management LTD acquired a new position in Imax Corporation during the second quarter valued at $19,949,000. Finally, Light Street Capital Management LLC raised its position in Imax Corporation by 69.7% during the second quarter. Light Street Capital Management LLC now owns 1,400,000 shares of the company’s stock valued at $30,800,000 after buying an additional 575,000 shares during the period. 82.88% of the stock is currently owned by institutional investors.
Several brokerages have weighed in on IMAX. Wedbush reaffirmed a “buy” rating and issued a $29.00 target price on shares of Imax Corporation in a research report on Tuesday, October 10th. B. Riley reaffirmed a “buy” rating and issued a $35.00 target price on shares of Imax Corporation in a research report on Tuesday, August 1st. BidaskClub lowered Imax Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research lowered Imax Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, Piper Jaffray Companies set a $35.00 target price on Imax Corporation and gave the stock a “buy” rating in a research report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. Imax Corporation currently has a consensus rating of “Hold” and a consensus target price of $31.30.
In related news, CFO Patrick Mcclymont sold 1,760 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $20.50, for a total value of $36,080.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Greg Foster sold 9,417 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $19.55, for a total value of $184,102.35. Following the completion of the sale, the chief executive officer now owns 67,018 shares of the company’s stock, valued at $1,310,201.90. The disclosure for this sale can be found here. Insiders own 18.90% of the company’s stock.
Shares of Imax Corporation (NYSE:IMAX) traded up 0.83% during mid-day trading on Tuesday, reaching $24.35. The company had a trading volume of 103,852 shares. Imax Corporation has a 12 month low of $17.58 and a 12 month high of $35.30. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 164.53 and a beta of 0.99. The firm’s 50-day moving average is $22.04 and its 200 day moving average is $23.44.
Imax Corporation (NYSE:IMAX) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.07. Imax Corporation had a return on equity of 2.62% and a net margin of 1.78%. The company had revenue of $98.80 million during the quarter, compared to analysts’ expectations of $86.17 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The business’s revenue was up 14.2% on a year-over-year basis. On average, equities research analysts predict that Imax Corporation will post $0.62 earnings per share for the current year.
Imax Corporation Company Profile
IMAX Corporation is an entertainment technology company. The Company operates through seven segments: IMAX systems; theater system maintenance; joint revenue sharing arrangements; film production and IMAX DMR; film distribution; film post-production, and other. The IMAX systems segment designs, manufactures, sells or leases IMAX theater projection system equipment.
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