Renaissance Technologies LLC Has $2.82 Million Stake in IMAX Corporation $IMAX

Renaissance Technologies LLC trimmed its position in IMAX Corporation (NYSE:IMAX) by 74.5% during the first quarter, HoldingsChannel.com reports. The firm owned 74,100 shares of the company’s stock after selling 216,300 shares during the quarter. Renaissance Technologies LLC’s holdings in IMAX were worth $2,817,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of IMAX. Orbis Allan Gray Ltd raised its position in IMAX by 31.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 5,113,033 shares of the company’s stock valued at $142,960,000 after buying an additional 1,230,267 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in IMAX by 44.6% during the 4th quarter. Westfield Capital Management Co. LP now owns 2,346,486 shares of the company’s stock worth $86,726,000 after acquiring an additional 723,861 shares during the last quarter. Marsico Capital Management LLC acquired a new position in IMAX during the 4th quarter worth approximately $18,149,000. Balyasny Asset Management L.P. bought a new position in shares of IMAX during the 2nd quarter worth approximately $12,568,000. Finally, Nuveen LLC raised its holdings in shares of IMAX by 253.0% in the fourth quarter. Nuveen LLC now owns 507,377 shares of the company’s stock valued at $18,753,000 after purchasing an additional 363,658 shares during the last quarter. 93.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on IMAX shares. Rosenblatt Securities restated a “buy” rating and set a $47.00 target price on shares of IMAX in a report on Monday, July 20th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $42.00 price target on shares of IMAX in a research note on Thursday, July 23rd. Wall Street Zen upgraded shares of IMAX from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $60.00 target price on shares of IMAX in a research report on Friday, May 22nd. Finally, Barrington Research upped their target price on IMAX from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Ten equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $50.36.

IMAX Trading Up 0.0%

Shares of IMAX opened at $48.49 on Monday. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 67.35, a PEG ratio of 1.60 and a beta of 0.38. IMAX Corporation has a 1-year low of $24.20 and a 1-year high of $51.60. The company’s fifty day simple moving average is $42.29 and its 200 day simple moving average is $38.99.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. IMAX had a net margin of 9.84% and a return on equity of 15.47%. The firm had revenue of $102.84 million during the quarter, compared to analysts’ expectations of $96.09 million. During the same quarter last year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, research analysts forecast that IMAX Corporation will post 1.44 earnings per share for the current year.

IMAX Profile

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.