Barclays PLC Trims Stock Position in IMAX Co. (NYSE:IMAX)

Barclays PLC cut its position in IMAX Co. (NYSE:IMAX - Free Report) by 78.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,960 shares of the company's stock after selling 288,194 shares during the quarter. Barclays PLC owned about 0.15% of IMAX worth $1,995,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in IMAX by 69.3% during the fourth 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 during the last quarter. Intech Investment Management LLC lifted its stake in shares of IMAX by 116.1% during the 4th quarter. Intech Investment Management LLC now owns 21,589 shares of the company's stock valued at $553,000 after buying an additional 11,597 shares in the last quarter. Raymond James Financial Inc. bought a new position in IMAX in the 4th quarter worth approximately $9,143,000. Savant Capital LLC purchased a new position in IMAX in the 4th quarter valued at approximately $249,000. Finally, Lord Abbett & CO. LLC bought a new stake in IMAX during the 3rd quarter valued at $6,322,000. Hedge funds and other institutional investors own 93.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IMAX. StockNews.com raised IMAX from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Benchmark reaffirmed a "buy" rating and set a $30.00 target price on shares of IMAX in a report on Thursday, April 10th. Macquarie raised their price target 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 reaffirmed an "outperform" rating and issued a $32.00 price target on shares of IMAX in a report on Thursday, April 24th. Finally, Wedbush reissued an "outperform" rating and set a $32.00 price objective on shares of IMAX in a research note on Thursday, April 17th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $30.56.

IMAX Price Performance

NYSE IMAX traded up $0.60 during trading on Wednesday, hitting $25.63. 1,307,245 shares of the company's stock traded hands, compared to its average volume of 754,860. The firm has a market cap of $1.38 billion, a P/E ratio of 52.31, a PEG ratio of 1.49 and a beta of 0.79. The stock has a fifty day moving average of $24.44 and a two-hundred day moving average of $24.52. IMAX Co. has a 12-month low of $14.94 and a 12-month high of $27.77.

IMAX (NYSE:IMAX - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $82.95 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. IMAX's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. As a group, analysts expect 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.