IMAX Co. (NYSE:IMAX) Shares Acquired by Foundry Partners LLC

Foundry Partners LLC boosted its position in shares of IMAX Co. (NYSE:IMAX) by 21.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 221,295 shares of the company’s stock after purchasing an additional 39,095 shares during the period. Foundry Partners LLC owned 0.42% of IMAX worth $4,539,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in IMAX. Victory Capital Management Inc. boosted its holdings in IMAX by 33.1% during the second quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock valued at $21,687,000 after purchasing an additional 321,506 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of IMAX by 90.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after buying an additional 279,410 shares during the last quarter. Mizuho Markets Americas LLC boosted its stake in shares of IMAX by 47.5% during the 3rd quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock worth $7,952,000 after buying an additional 124,811 shares during the last quarter. Pembroke Management LTD lifted its stake in IMAX by 35.2% in the 2nd quarter. Pembroke Management LTD now owns 474,761 shares of the company’s stock valued at $7,962,000 after purchasing an additional 123,648 shares during the last quarter. Finally, Private Capital Management LLC raised its holdings in IMAX by 10.0% in the 1st quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock valued at $21,092,000 after acquiring an additional 118,649 shares during the period. Institutional investors and hedge funds own 93.51% of the company’s stock.

IMAX Stock Down 0.7 %

Shares of NYSE:IMAX opened at $24.60 on Friday. The business has a fifty day simple moving average of $21.68 and a 200-day simple moving average of $19.43. IMAX Co. has a 52 week low of $13.20 and a 52 week high of $25.28. The company has a market cap of $1.30 billion, a P/E ratio of 55.90, a P/E/G ratio of 1.63 and a beta of 1.22.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. The business had revenue of $91.50 million for the quarter, compared to analysts’ expectations of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The business’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 EPS. Sell-side analysts expect that IMAX Co. will post 0.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IMAX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a research report on Thursday. Barrington Research restated an “outperform” rating and set a $24.00 price target on shares of IMAX in a report on Thursday, October 31st. Wedbush boosted their target price on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 target price on shares of IMAX in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, IMAX currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.22.

IMAX Company Profile

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.