Calamos Advisors LLC Acquires New Shares in IMAX Co. (NYSE:IMAX)

Calamos Advisors LLC acquired a new stake in shares of IMAX Co. (NYSE:IMAX) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 13,699 shares of the company’s stock, valued at approximately $351,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mizuho Markets Americas LLC increased its position in shares of IMAX by 47.5% during the third quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock valued at $7,952,000 after buying an additional 124,811 shares during the period. Royce & Associates LP increased its holdings in IMAX by 3.1% during the 3rd quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock worth $37,382,000 after acquiring an additional 54,850 shares during the period. Quantbot Technologies LP bought a new stake in IMAX during the 3rd quarter worth approximately $777,000. Lord Abbett & CO. LLC bought a new position in shares of IMAX in the third quarter worth $6,322,000. Finally, FMR LLC increased its holdings in shares of IMAX by 108.4% in the third quarter. FMR LLC now owns 3,949,643 shares of the company’s stock worth $81,007,000 after purchasing an additional 2,054,031 shares during the period. 93.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on IMAX shares. Barrington Research reaffirmed an “outperform” rating and issued a $30.00 price target on shares of IMAX in a report on Friday, January 10th. Roth Mkm upped their price objective on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on shares of IMAX from $21.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Wedbush reissued an “outperform” rating and issued a $32.00 price target on shares of IMAX in a report on Friday, January 17th. Finally, Benchmark reaffirmed a “buy” rating and set a $30.00 price objective on shares of IMAX in a report on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.63.

Insiders Place Their Bets

In related news, CFO Natasha Fernandes sold 2,957 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the sale, the chief financial officer now directly owns 14,883 shares of the company’s stock, valued at $379,814.16. This trade represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kenneth Ian Weissman sold 6,309 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.51, for a total transaction of $160,942.59. Following the transaction, the insider now directly owns 25,139 shares of the company’s stock, valued at $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,176 shares of company stock worth $1,662,110. 24.08% of the stock is currently owned by company insiders.

IMAX Price Performance

NYSE:IMAX opened at $24.91 on Thursday. The company has a market capitalization of $1.31 billion, a PE ratio of 56.61, a P/E/G ratio of 1.30 and a beta of 1.22. IMAX Co. has a 1-year low of $13.20 and a 1-year high of $26.84. The firm’s 50-day moving average price is $24.59 and its 200-day moving average price is $22.47.

About IMAX

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.