New York State Common Retirement Fund lessened its holdings in Imax Corporation (NYSE:IMAX) by 48.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 165,772 shares of the company’s stock after selling 154,959 shares during the period. New York State Common Retirement Fund owned about 0.26% of Imax Corporation worth $3,647,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. Legal & General Group Plc grew its holdings in shares of Imax Corporation by 0.6% during the second quarter. Legal & General Group Plc now owns 21,109 shares of the company’s stock worth $468,000 after purchasing an additional 129 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Imax Corporation by 13.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,522 shares of the company’s stock worth $181,000 after purchasing an additional 748 shares during the last quarter. American International Group Inc. grew its holdings in shares of Imax Corporation by 5.0% during the first quarter. American International Group Inc. now owns 35,583 shares of the company’s stock worth $1,210,000 after purchasing an additional 1,701 shares during the last quarter. Denver Investment Advisors LLC grew its holdings in shares of Imax Corporation by 8.3% during the second quarter. Denver Investment Advisors LLC now owns 26,265 shares of the company’s stock worth $578,000 after purchasing an additional 2,015 shares during the last quarter. Finally, UBS Group AG grew its holdings in shares of Imax Corporation by 19.2% during the first quarter. UBS Group AG now owns 15,112 shares of the company’s stock worth $513,000 after purchasing an additional 2,435 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.
Several analysts have recently weighed in on IMAX shares. B. Riley restated a “buy” rating and set a $35.00 price target on shares of Imax Corporation in a report on Tuesday, August 1st. MKM Partners reduced their price target on Imax Corporation from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, July 7th. Piper Jaffray Companies set a $35.00 price target on Imax Corporation and gave the stock a “buy” rating in a report on Friday, July 21st. Wedbush restated a “buy” rating on shares of Imax Corporation in a report on Thursday, July 27th. Finally, Canaccord Genuity set a $33.00 price target on Imax Corporation and gave the stock a “buy” rating in a report on Friday, August 18th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $32.10.
Shares of Imax Corporation (NYSE:IMAX) traded up 6.41% during trading on Friday, reaching $24.90. The company’s stock had a trading volume of 2,524,555 shares. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 168.24 and a beta of 1.00. Imax Corporation has a 52-week low of $17.58 and a 52-week high of $35.30. The stock’s 50 day moving average price is $21.63 and its 200-day moving average price is $23.67.
Imax Corporation (NYSE:IMAX) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.07. The business had revenue of $98.80 million during the quarter, compared to analysts’ expectations of $86.17 million. Imax Corporation had a return on equity of 2.61% and a net margin of 1.78%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 earnings per share. Equities analysts anticipate that Imax Corporation will post $0.57 EPS for the current year.
In other Imax Corporation news, CEO Greg Foster sold 9,417 shares of Imax Corporation stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $19.55, for a total transaction of $184,102.35. Following the completion of the transaction, the chief executive officer now owns 67,018 shares in the company, valued at $1,310,201.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Patrick Mcclymont sold 1,760 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $20.50, for a total value of $36,080.00. The disclosure for this sale can be found here. 18.90% of the stock is currently owned by insiders.
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About Imax Corporation
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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