Wesbanco Bank Inc. Purchases Shares of 18,100 IMAX Co. (NYSE:IMAX)

Wesbanco Bank Inc. purchased a new stake in shares of IMAX Co. (NYSE:IMAX) in the first quarter, HoldingsChannel reports. The firm purchased 18,100 shares of the company’s stock, valued at approximately $477,000.

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

IMAX Stock Up 1.2%

NYSE IMAX opened at $27.35 on Wednesday. IMAX Co. has a 52 week low of $14.96 and a 52 week high of $28.42. The stock has a market capitalization of $1.47 billion, a PE ratio of 55.82, a price-to-earnings-growth ratio of 1.49 and a beta of 0.81. The firm has a 50 day moving average of $25.17 and a two-hundred day moving average of $25.16.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IMAX. JPMorgan Chase & Co. dropped their price objective on shares of IMAX from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Benchmark restated a “buy” rating and issued a $30.00 price objective on shares of IMAX in a report on Thursday, April 10th. Macquarie lifted their price objective on shares of IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Barrington Research restated an “outperform” rating and issued a $32.00 price objective on shares of IMAX in a report on Thursday, April 24th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $35.00 price objective on shares of IMAX in a report on Thursday, April 24th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $31.22.

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.