Charles Schwab Investment Management Inc. Raises Holdings in IMAX Co. (NYSE:IMAX)

Charles Schwab Investment Management Inc. raised its stake in shares of IMAX Co. (NYSE:IMAX) by 22.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 156,025 shares of the company’s stock after acquiring an additional 28,747 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.26% of IMAX worth $3,355,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Alliancebernstein L.P. raised its position in IMAX by 6.3% in the second quarter. Alliancebernstein L.P. now owns 2,452,720 shares of the company’s stock worth $52,733,000 after acquiring an additional 144,949 shares in the last quarter. Bank of New York Mellon Corp raised its position in IMAX by 17.4% in the second quarter. Bank of New York Mellon Corp now owns 1,111,564 shares of the company’s stock worth $23,898,000 after acquiring an additional 164,731 shares in the last quarter. Goldman Sachs Group Inc. raised its position in IMAX by 35.8% in the second quarter. Goldman Sachs Group Inc. now owns 833,446 shares of the company’s stock worth $17,919,000 after acquiring an additional 219,510 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of IMAX by 22.1% in the second quarter. Eagle Asset Management Inc. now owns 509,214 shares of the company’s stock valued at $10,948,000 after buying an additional 92,137 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of IMAX by 14.9% in the first quarter. Nuveen Asset Management LLC now owns 505,361 shares of the company’s stock valued at $10,157,000 after buying an additional 65,621 shares in the last quarter. 74.71% of the stock is owned by institutional investors.

Shares of IMAX stock opened at $18.44 on Thursday. The company has a market capitalization of $1.09 billion, a PE ratio of -20.26 and a beta of 1.58. The firm has a fifty day simple moving average of $19.63 and a 200-day simple moving average of $18.95. IMAX Co. has a twelve month low of $13.60 and a twelve month high of $25.05.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Thursday, October 28th. The company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.14. IMAX had a negative net margin of 26.53% and a negative return on equity of 13.96%. The firm had revenue of $56.60 million for the quarter, compared to the consensus estimate of $56.73 million. During the same period in the prior year, the firm posted ($0.84) EPS. The firm’s revenue was up 51.9% compared to the same quarter last year. As a group, research analysts forecast that IMAX Co. will post -0.67 EPS for the current fiscal year.

A number of research analysts have recently weighed in on IMAX shares. Wedbush restated a “buy” rating and issued a $26.00 price target on shares of IMAX in a research report on Wednesday, August 11th. JPMorgan Chase & Co. decreased their price objective on IMAX from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 28th. Barrington Research increased their price objective on IMAX from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, October 29th. TheStreet raised IMAX from a “d+” rating to a “c” rating in a research note on Tuesday, November 16th. Finally, Wells Fargo & Company initiated coverage on IMAX in a research note on Friday, October 22nd. They set an “overweight” rating and a $27.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $24.60.

About IMAX

IMAX Corp. is an entertainment technology company, which engages in the business of motion picture technologies and presentations. It operates through following four business segments: IMAX Technology Network; IMAX Technology Sales and Maintenance; New Business Initiatives; and Film Distribution and Post-Production.

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Institutional Ownership by Quarter for IMAX (NYSE:IMAX)

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