D. E. Shaw & Co. Inc. Sells 45,223 Shares of IMAX Co. (NYSE:IMAX)

D. E. Shaw & Co. Inc. reduced its position in IMAX Co. (NYSE:IMAX - Free Report) by 16.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 223,630 shares of the company's stock after selling 45,223 shares during the period. D. E. Shaw & Co. Inc. owned about 0.42% of IMAX worth $5,725,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC boosted its stake in IMAX by 1.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company's stock valued at $747,000 after purchasing an additional 533 shares during the period. Blue Trust Inc. lifted its position in shares of IMAX by 138.5% during the 4th quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after buying an additional 561 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of IMAX by 3.4% during the fourth quarter. MetLife Investment Management LLC now owns 25,918 shares of the company's stock valued at $664,000 after acquiring an additional 848 shares during the period. State of Tennessee Department of Treasury raised its stake in shares of IMAX by 19.8% in the fourth quarter. State of Tennessee Department of Treasury now owns 9,827 shares of the company's stock valued at $252,000 after acquiring an additional 1,627 shares during the last quarter. Finally, Hedges Asset Management LLC increased its stake in shares of IMAX by 3.1% in the fourth quarter. Hedges Asset Management LLC now owns 83,600 shares of the company's stock valued at $2,140,000 after buying an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on IMAX shares. Wedbush restated an "outperform" rating and issued a $32.00 price objective on shares of IMAX in a report on Thursday, April 17th. JPMorgan Chase & Co. dropped their price objective on shares of IMAX from $27.00 to $26.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. B. Riley initiated coverage on IMAX in a research report on Friday. They issued a "buy" rating and a $36.00 target price on the stock. Rosenblatt Securities reissued a "buy" rating and set a $35.00 price target on shares of IMAX in a research report on Thursday, April 24th. Finally, Benchmark restated a "buy" rating and issued a $30.00 price objective on shares of IMAX in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, IMAX currently has a consensus rating of "Buy" and a consensus target price of $31.22.

IMAX Price Performance

IMAX traded down $0.07 during trading on Tuesday, hitting $27.07. 778,205 shares of the stock traded hands, compared to its average volume of 754,748. The business has a 50 day moving average price of $24.72 and a 200 day moving average price of $24.84. IMAX Co. has a twelve month low of $14.94 and a twelve month high of $27.77. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 55.25, a PEG ratio of 1.49 and a beta of 0.79.

IMAX (NYSE:IMAX - Get Free Report) last announced 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. 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 the consensus estimate of $82.95 million. During the same period in the prior year, the business earned $0.15 earnings per share. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities research analysts predict that IMAX Co. will post 0.91 earnings per share for the current year.

IMAX Company 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.