IMAX Co. (NYSE:IMAX) Shares Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its position in shares of IMAX Co. (NYSE:IMAX) by 36.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,823,516 shares of the company’s stock after acquiring an additional 491,172 shares during the quarter. Ameriprise Financial Inc.’s holdings in IMAX were worth $46,671,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. increased its holdings in IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after purchasing an additional 561 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in IMAX by 415.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company’s stock valued at $185,000 after purchasing an additional 5,832 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in IMAX in the 4th quarter valued at approximately $217,000. Cornerstone Investment Partners LLC acquired a new stake in IMAX in the 4th quarter valued at approximately $248,000. Finally, Savant Capital LLC acquired a new stake in IMAX in the 4th quarter valued at approximately $249,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on IMAX shares. Macquarie lifted their target price on shares of IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Benchmark reiterated a “buy” rating and issued a $30.00 target price on shares of IMAX in a report on Thursday, April 10th. Wells Fargo & Company dropped their price target on shares of IMAX from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. dropped their price target on shares of IMAX from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.56.

IMAX Trading Up 0.5%

IMAX stock opened at $26.00 on Monday. The stock has a market cap of $1.40 billion, a P/E ratio of 53.06, a price-to-earnings-growth ratio of 1.49 and a beta of 0.79. The company has a fifty day simple moving average of $24.48 and a 200-day simple moving average of $24.65. IMAX Co. has a 12-month low of $14.94 and a 12-month high of $27.77.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The business had revenue of $86.67 million during the quarter, compared to analysts’ expectations of $82.95 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 EPS. As a group, sell-side analysts forecast that IMAX Co. will post 0.91 earnings per share for the current fiscal year.

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.