Peregrine Capital Management LLC reduced its stake in shares of IMAX Co. (NYSE:IMAX – Get Rating) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 606,683 shares of the company's stock after selling 6,599 shares during the period. Peregrine Capital Management LLC's holdings in IMAX were worth $8,894,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC raised its holdings in shares of IMAX by 164.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the company's stock valued at $46,000 after buying an additional 2,029 shares during the period. Point72 Hong Kong Ltd grew its stake in IMAX by 1,905.6% during the 3rd quarter. Point72 Hong Kong Ltd now owns 5,395 shares of the company's stock valued at $76,000 after purchasing an additional 5,126 shares in the last quarter. Great West Life Assurance Co. Can acquired a new stake in IMAX during the 3rd quarter valued at approximately $79,000. Quantbot Technologies LP acquired a new stake in IMAX during the 3rd quarter valued at approximately $103,000. Finally, Engineers Gate Manager LP acquired a new stake in IMAX during the 3rd quarter valued at approximately $152,000. 75.36% of the stock is currently owned by hedge funds and other institutional investors.
Get IMAX alerts:Insider Buying and Selling at IMAX
In other IMAX news, insider Mark Welton sold 20,000 shares of IMAX stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $18.35, for a total transaction of $367,000.00. Following the sale, the insider now owns 82,271 shares of the company's stock, valued at approximately $1,509,672.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Calamera Pablo sold 7,697 shares of the business's stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $18.32, for a total value of $141,009.04. Following the sale, the executive vice president now owns 34,106 shares of the company's stock, valued at approximately $624,821.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Welton sold 20,000 shares of the business's stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $18.35, for a total value of $367,000.00. Following the completion of the sale, the insider now directly owns 82,271 shares in the company, valued at approximately $1,509,672.85. The disclosure for this sale can be found here. 22.22% of the stock is owned by company insiders.
IMAX Price Performance
NYSE:IMAX opened at $16.53 on Friday. IMAX Co. has a 12-month low of $12.13 and a 12-month high of $20.50. The firm has a market capitalization of $892.12 million, a P/E ratio of -42.38, a P/E/G ratio of 2.58 and a beta of 1.38. The business has a 50 day simple moving average of $17.12 and a 200 day simple moving average of $15.57.
IMAX (NYSE:IMAX – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The company had revenue of $98.05 million for the quarter, compared to analyst estimates of $95.97 million. IMAX had a negative net margin of 7.58% and a negative return on equity of 5.96%. Research analysts anticipate that IMAX Co. will post 0.33 EPS for the current fiscal year.
Wall Street Analyst Weigh In
IMAX has been the subject of a number of recent analyst reports. Barrington Research raised their price objective on IMAX from $20.00 to $22.00 in a research note on Friday, February 24th. Rosenblatt Securities raised their price objective on IMAX from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, February 23rd. JPMorgan Chase & Co. lifted their target price on IMAX from $16.00 to $19.00 and gave the stock a "neutral" rating in a research report on Thursday, February 23rd. B. Riley lifted their target price on IMAX from $20.00 to $23.00 and gave the stock a "buy" rating in a research report on Monday, December 5th. Finally, The Goldman Sachs Group lifted their target price on IMAX from $12.00 to $14.00 and gave the stock a "sell" rating in a research report on Tuesday, February 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $20.63.
About IMAX
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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.
Further Reading
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