Private Capital Management LLC Sells 1,060,269 Shares of IMAX Co. (NYSE:IMAX)

Private Capital Management LLC reduced its stake in shares of IMAX Co. (NYSE:IMAX) by 81.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 234,105 shares of the company’s stock after selling 1,060,269 shares during the period. Private Capital Management LLC owned about 0.44% of IMAX worth $4,801,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of IMAX. Janney Montgomery Scott LLC grew its holdings in IMAX by 1.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock worth $747,000 after buying an additional 533 shares in the last quarter. Blue Trust Inc. grew its stake in shares of IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after acquiring an additional 561 shares in the last quarter. US Bancorp DE raised its holdings in shares of IMAX by 23.4% in the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after purchasing an additional 1,452 shares during the last quarter. Huntington National Bank purchased a new stake in shares of IMAX in the third quarter valued at about $34,000. Finally, Quarry LP lifted its position in shares of IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after purchasing an additional 2,350 shares in the last quarter. 93.51% of the stock is owned by hedge funds and other institutional investors.

IMAX Stock Down 1.5 %

NYSE IMAX opened at $25.32 on Friday. The company has a market cap of $1.34 billion, a PE ratio of 51.66, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. IMAX Co. has a 52 week low of $14.94 and a 52 week high of $27.77. The firm’s 50-day simple moving average is $24.72 and its two-hundred day simple moving average is $23.16.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). IMAX had a net margin of 7.40% and a return on equity of 8.60%. The business had revenue of $92.67 million for the quarter, compared to analysts’ expectations of $104.08 million. As a group, equities research analysts anticipate that IMAX Co. will post 0.91 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on IMAX shares. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Wells Fargo & Company increased their price target on IMAX from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price objective on IMAX from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Benchmark reaffirmed a “buy” rating and set a $30.00 target price on shares of IMAX in a research report on Thursday, February 20th. Finally, Roth Mkm boosted their price target on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, IMAX has a consensus rating of “Moderate Buy” and an average target price of $30.67.

Insiders Place Their Bets

In related news, EVP Robert D. Lister sold 55,910 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the sale, the executive vice president now directly owns 138,889 shares in the company, valued at approximately $3,541,669.50. The trade was a 28.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kenneth Ian Weissman sold 6,309 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.51, for a total value of $160,942.59. Following the completion of the transaction, the insider now owns 25,139 shares of the company’s stock, valued at approximately $641,295.89. This represents a 20.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,176 shares of company stock worth $1,662,110 over the last 90 days. Corporate insiders own 24.08% of the company’s stock.

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.