Victory Capital Management Inc. Decreases Holdings in IMAX Co. (NYSE:IMAX)

Victory Capital Management Inc. decreased its position in shares of IMAX Co. (NYSE:IMAX) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,391,984 shares of the company’s stock after selling 28,608 shares during the period. Victory Capital Management Inc. owned 2.64% of IMAX worth $35,635,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Cornerstone Investment Partners LLC purchased a new stake in IMAX during the fourth quarter valued at approximately $248,000. US Bancorp DE increased its stake in IMAX by 60.3% during the 4th quarter. US Bancorp DE now owns 12,276 shares of the company’s stock valued at $314,000 after purchasing an additional 4,620 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in IMAX during the 4th quarter valued at approximately $502,000. Impact Investors Inc acquired a new position in IMAX during the 4th quarter valued at approximately $763,000. Finally, Principal Financial Group Inc. increased its stake in IMAX by 69.3% during the 4th quarter. Principal Financial Group Inc. now owns 103,946 shares of the company’s stock valued at $2,661,000 after purchasing an additional 42,562 shares in the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com upgraded shares of IMAX from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Macquarie upped their price target on shares of IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Wedbush restated an “outperform” rating and set a $32.00 price target on shares of IMAX in a research note on Thursday, February 20th. Benchmark restated a “buy” rating and set a $30.00 price target on shares of IMAX in a research note on Thursday, February 20th. Finally, Wells Fargo & Company upped their price target on shares of IMAX from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $30.67.

IMAX Price Performance

NYSE:IMAX opened at $25.27 on Monday. The firm has a market capitalization of $1.34 billion, a P/E ratio of 51.58, a PEG ratio of 1.49 and a beta of 1.22. IMAX Co. has a 1-year low of $14.94 and a 1-year high of $27.77. The company’s fifty day moving average price is $24.73 and its 200-day moving average price is $23.40.

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