IMAX Co. (NYSE:IMAX) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. lowered its stake in IMAX Co. (NYSE:IMAX) by 17.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 358,081 shares of the company’s stock after selling 76,810 shares during the quarter. Eagle Asset Management Inc.’s holdings in IMAX were worth $7,344,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Huntington National Bank acquired a new stake in shares of IMAX in the third quarter valued at $34,000. Headlands Technologies LLC bought a new stake in IMAX in the second quarter worth about $35,000. nVerses Capital LLC bought a new position in shares of IMAX during the 3rd quarter valued at about $70,000. Summit Securities Group LLC bought a new position in shares of IMAX during the 2nd quarter valued at about $80,000. Finally, Laurus Investment Counsel Inc. acquired a new position in shares of IMAX in the 2nd quarter worth approximately $150,000. Institutional investors own 93.51% of the company’s stock.

IMAX Stock Performance

NYSE:IMAX opened at $25.19 on Monday. The company has a market capitalization of $1.33 billion, a P/E ratio of 57.25, a P/E/G ratio of 1.62 and a beta of 1.22. The stock’s 50 day moving average price is $21.77 and its 200 day moving average price is $19.52. IMAX Co. has a 52 week low of $13.20 and a 52 week high of $25.51.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on IMAX shares. JPMorgan Chase & Co. raised their target price on shares of IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Roth Mkm raised their price objective on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 target price on shares of IMAX in a research report on Thursday, October 31st. Wedbush increased their price target on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Finally, Barrington Research restated an “outperform” rating and set a $24.00 price objective on shares of IMAX in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, IMAX presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.22.

IMAX 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.