Castleark Management LLC Sells 11,510 Shares of IMAX Co. (NYSE:IMAX)

Castleark Management LLC lowered its position in shares of IMAX Co. (NYSE:IMAX - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 241,971 shares of the company's stock after selling 11,510 shares during the quarter. Castleark Management LLC owned 0.46% of IMAX worth $6,194,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of IMAX. FMR LLC lifted its holdings in IMAX by 14.2% during the 4th quarter. FMR LLC now owns 4,508,583 shares of the company's stock worth $115,420,000 after buying an additional 558,940 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in IMAX by 36.9% during the 4th quarter. Ameriprise Financial Inc. now owns 1,823,516 shares of the company's stock valued at $46,671,000 after purchasing an additional 491,172 shares during the period. Wells Fargo & Company MN increased its position in shares of IMAX by 45.4% during the 4th quarter. Wells Fargo & Company MN now owns 624,510 shares of the company's stock valued at $15,987,000 after purchasing an additional 194,917 shares during the period. Vanguard Group Inc. grew its stake in shares of IMAX by 11.0% in the 4th quarter. Vanguard Group Inc. now owns 612,115 shares of the company's stock worth $15,670,000 after purchasing an additional 60,762 shares during the last quarter. Finally, Oberweis Asset Management Inc. lifted its stake in IMAX by 29.7% during the fourth quarter. Oberweis Asset Management Inc. now owns 579,600 shares of the company's stock valued at $14,838,000 after purchasing an additional 132,600 shares during the last quarter. Hedge funds and other institutional investors own 93.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IMAX. Rosenblatt Securities reissued a "buy" rating and issued a $35.00 target price on shares of IMAX in a research report on Thursday, April 24th. Benchmark reiterated a "buy" rating and set a $30.00 price objective on shares of IMAX in a research report on Thursday, April 10th. Wedbush restated an "outperform" rating and issued a $32.00 target price on shares of IMAX in a report on Thursday, April 17th. Barrington Research reissued an "outperform" rating and set a $32.00 target price on shares of IMAX in a research note on Thursday, April 24th. Finally, B. Riley reissued a "buy" rating and set a $36.00 price objective on shares of IMAX in a research report on Friday, May 16th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, IMAX presently has a consensus rating of "Buy" and a consensus price target of $31.22.

IMAX Trading Up 3.9%

Shares of IMAX traded up $1.04 on Tuesday, reaching $28.01. The company's stock had a trading volume of 290,740 shares, compared to its average volume of 755,744. IMAX Co. has a twelve month low of $14.94 and a twelve month high of $28.16. The stock has a market capitalization of $1.51 billion, a PE ratio of 57.17, a PEG ratio of 1.49 and a beta of 0.79. The firm has a fifty day moving average of $24.96 and a 200-day moving average of $24.93.

IMAX (NYSE:IMAX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.02. The firm had revenue of $86.67 million during the quarter, compared to the consensus estimate of $82.95 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. The company's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the company posted $0.15 EPS. As a group, equities analysts anticipate that IMAX Co. will post 0.91 EPS for the current fiscal 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.