CoreCap Advisors LLC Takes $773,000 Position in IMAX Co. (NYSE:IMAX)

CoreCap Advisors LLC acquired a new stake in IMAX Co. (NYSE:IMAX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 30,212 shares of the company's stock, valued at approximately $773,000. CoreCap Advisors LLC owned 0.06% of IMAX as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of IMAX. Blue Trust Inc. increased its position in IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after buying an additional 561 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in IMAX by 415.4% in the fourth 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 purchased a new position in IMAX during the fourth quarter worth about $217,000. Cornerstone Investment Partners LLC acquired a new stake in IMAX in the 4th quarter worth about $248,000. Finally, Savant Capital LLC purchased a new stake in IMAX in the 4th quarter valued at about $249,000. 93.51% of the stock is currently owned by institutional investors and hedge funds.

IMAX Price Performance

Shares of NYSE:IMAX traded up $0.15 during trading on Wednesday, reaching $26.30. 533,120 shares of the company's stock traded hands, compared to its average volume of 753,162. The stock has a market capitalization of $1.41 billion, a P/E ratio of 53.67, a price-to-earnings-growth ratio of 1.49 and a beta of 0.79. The company has a 50 day moving average of $24.54 and a 200-day moving average of $24.70. 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 released 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. The business had revenue of $86.67 million during the quarter, compared to analyst estimates of $82.95 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. The company's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Equities research analysts predict that IMAX Co. will post 0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IMAX has been the topic of several recent analyst reports. Wedbush reiterated an "outperform" rating and set a $32.00 price objective on shares of IMAX in a report on Thursday, April 17th. Macquarie lifted 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. JPMorgan Chase & Co. dropped their price objective on IMAX from $27.00 to $26.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Wells Fargo & Company reduced their target price on IMAX from $32.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, Barrington Research reiterated an "outperform" rating and set a $32.00 target price on shares of IMAX in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, IMAX currently has an average rating of "Moderate Buy" and a consensus price target of $30.56.

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.