River & Mercantile Asset Management LLP decreased its holdings in shares of IMAX Co. (NYSE:IMAX – Get Rating) by 10.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,135 shares of the company's stock after selling 7,800 shares during the period. River & Mercantile Asset Management LLP owned about 0.13% of IMAX worth $991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of the business. Balyasny Asset Management LLC bought a new stake in shares of IMAX during the 3rd quarter valued at $2,180,000. Thrivent Financial for Lutherans grew its position in shares of IMAX by 6.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 221,936 shares of the company's stock valued at $3,134,000 after acquiring an additional 13,376 shares during the period. UBS Asset Management Americas Inc. grew its position in shares of IMAX by 6.0% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 59,613 shares of the company's stock valued at $842,000 after acquiring an additional 3,349 shares during the period. Engineers Gate Manager LP bought a new stake in shares of IMAX during the 3rd quarter valued at $152,000. Finally, Macquarie Group Ltd. grew its position in shares of IMAX by 1.1% during the 3rd quarter. Macquarie Group Ltd. now owns 2,218,837 shares of the company's stock valued at $31,339,000 after acquiring an additional 24,600 shares during the period. Institutional investors own 75.36% of the company's stock.
Get IMAX alerts:Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on IMAX. Barrington Research boosted their price objective on shares of IMAX from $20.00 to $22.00 in a research report on Friday, February 24th. B. Riley lifted their target price on shares of IMAX from $20.00 to $23.00 and gave the company a "buy" rating in a research note on Monday, December 5th. Roth Capital restated a "buy" rating on shares of IMAX in a research note on Monday, February 13th. Rosenblatt Securities lifted their target price on shares of IMAX from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, February 23rd. Finally, The Goldman Sachs Group lifted their target price on shares of IMAX from $12.00 to $14.00 and gave the company a "sell" rating in a research note on Tuesday, February 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.63.
Insider Activity
In other news, insider Mark Welton sold 20,000 shares of the company's stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $18.35, for a total transaction of $367,000.00. Following the sale, the insider now directly owns 82,271 shares in the company, valued at approximately $1,509,672.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Mark Welton sold 20,000 shares of the company's stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $18.35, for a total transaction of $367,000.00. Following the sale, the insider now directly owns 82,271 shares in the company, valued at approximately $1,509,672.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Calamera Pablo sold 7,697 shares of the company's stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $18.32, for a total transaction of $141,009.04. Following the sale, the executive vice president now owns 34,106 shares in the company, valued at $624,821.92. The disclosure for this sale can be found here. Corporate insiders own 22.22% of the company's stock.
IMAX Stock Down 0.4 %
Shares of IMAX stock opened at $17.11 on Thursday. The stock has a market cap of $923.43 million, a P/E ratio of -43.87, a PEG ratio of 2.61 and a beta of 1.38. IMAX Co. has a 52 week low of $12.13 and a 52 week high of $20.50. The company's fifty day simple moving average is $17.05 and its two-hundred day simple moving average is $15.54.
IMAX (NYSE:IMAX – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $98.05 million during the quarter, compared to analysts' expectations of $95.97 million. IMAX had a negative return on equity of 5.96% and a negative net margin of 7.58%. On average, analysts anticipate that IMAX Co. will post 0.33 EPS for the current fiscal year.
IMAX Profile
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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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