IMAX Co. (NYSE:IMAX) is Pier Capital LLC’s 2nd Largest Position

Pier Capital LLC boosted its position in IMAX Co. (NYSE:IMAX) by 132.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 478,760 shares of the company’s stock after purchasing an additional 272,949 shares during the period. IMAX comprises approximately 1.7% of Pier Capital LLC’s holdings, making the stock its 2nd largest position. Pier Capital LLC owned about 0.91% of IMAX worth $12,256,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of IMAX by 11.0% during the 4th quarter. Vanguard Group Inc. now owns 612,115 shares of the company’s stock worth $15,670,000 after purchasing an additional 60,762 shares during the period. KLP Kapitalforvaltning AS acquired a new position in IMAX during the fourth quarter worth about $448,000. Sei Investments Co. increased its holdings in IMAX by 10.2% in the fourth quarter. Sei Investments Co. now owns 146,577 shares of the company’s stock valued at $3,752,000 after buying an additional 13,549 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of IMAX by 116.1% during the 4th quarter. Intech Investment Management LLC now owns 21,589 shares of the company’s stock worth $553,000 after acquiring an additional 11,597 shares in the last quarter. Finally, Wealthfront Advisers LLC acquired a new stake in shares of IMAX in the 4th quarter worth approximately $217,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Wall Street Analyst Weigh In

IMAX has been the subject of several research reports. Wedbush reaffirmed an “outperform” rating and set a $32.00 price objective on shares of IMAX in a report on Thursday, February 20th. Barrington Research increased their price objective on shares of IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. raised their target price on shares of IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, February 21st. StockNews.com raised shares of IMAX from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. Finally, Benchmark restated a “buy” rating and set a $30.00 price objective on shares of IMAX in a research report on Thursday, February 20th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IMAX currently has an average rating of “Buy” and an average price target of $30.67.

IMAX Trading Up 1.1 %

NYSE IMAX opened at $27.06 on Tuesday. The company has a market capitalization of $1.43 billion, a PE ratio of 55.22, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The business’s 50-day moving average price is $24.91 and its 200 day moving average price is $23.70. IMAX Co. has a twelve month low of $14.94 and a twelve month high of $27.77.

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

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.