Intech Investment Management LLC Has $562,000 Stake in IMAX Corporation $IMAX

Intech Investment Management LLC lowered its stake in shares of IMAX Corporation (NYSE:IMAX) by 15.1% in the second quarter, Holdings Channel reports. The institutional investor owned 20,108 shares of the company’s stock after selling 3,577 shares during the period. Intech Investment Management LLC’s holdings in IMAX were worth $562,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Creative Planning raised its holdings in IMAX by 84.1% in the 2nd quarter. Creative Planning now owns 16,081 shares of the company’s stock valued at $450,000 after acquiring an additional 7,344 shares in the last quarter. Geode Capital Management LLC increased its position in shares of IMAX by 1.9% during the second quarter. Geode Capital Management LLC now owns 511,769 shares of the company’s stock valued at $14,307,000 after purchasing an additional 9,451 shares during the period. CSM Advisors LLC acquired a new position in shares of IMAX in the second quarter valued at $5,907,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of IMAX in the second quarter valued at $1,069,000. Finally, RWA Wealth Partners LLC bought a new position in IMAX in the second quarter worth $701,000. 93.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at IMAX

In related news, EVP Giovanni M. Dolci sold 6,188 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $34.25, for a total transaction of $211,939.00. Following the transaction, the executive vice president owned 33,000 shares in the company, valued at $1,130,250. This represents a 15.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert D. Lister sold 50,143 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $34.67, for a total transaction of $1,738,457.81. Following the sale, the vice president directly owned 161,421 shares in the company, valued at approximately $5,596,466.07. This represents a 23.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 76,331 shares of company stock valued at $2,606,397 over the last ninety days. 23.18% of the stock is currently owned by company insiders.

IMAX Trading Down 2.8%

NYSE IMAX opened at $35.85 on Friday. IMAX Corporation has a 1-year low of $20.48 and a 1-year high of $37.57. The company has a 50 day moving average of $33.51 and a 200-day moving average of $29.76. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 50.49, a PEG ratio of 2.05 and a beta of 0.60.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Thursday, October 23rd. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. IMAX had a return on equity of 9.91% and a net margin of 10.47%.The business had revenue of $106.65 million for the quarter, compared to analyst estimates of $102.88 million. During the same period in the prior year, the company earned $0.35 EPS. IMAX’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, analysts forecast that IMAX Corporation will post 0.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on IMAX shares. B. Riley restated a “buy” rating on shares of IMAX in a research note on Friday, October 10th. Rosenblatt Securities reissued a “buy” rating and issued a $42.00 price target on shares of IMAX in a research report on Friday, October 24th. Barrington Research reaffirmed an “outperform” rating and set a $37.00 price objective on shares of IMAX in a report on Thursday, October 23rd. JPMorgan Chase & Co. increased their target price on IMAX from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of IMAX in a research report on Tuesday. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.40.

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.