GAMMA Investing LLC Buys 38,703 Shares of IMAX Co. (NYSE:IMAX)

GAMMA Investing LLC raised its stake in shares of IMAX Co. (NYSE:IMAX - Free Report) by 2,361.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 40,342 shares of the company's stock after purchasing an additional 38,703 shares during the quarter. GAMMA Investing LLC owned 0.08% of IMAX worth $10,630,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of IMAX from $27.00 to $26.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Barrington Research reissued an "outperform" rating and issued a $32.00 target price on shares of IMAX in a research note on Thursday, April 24th. Wells Fargo & Company lowered their target price on shares of IMAX from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Wall Street Zen raised shares of IMAX from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, B. Riley reissued a "buy" rating and issued a $36.00 target price on shares of IMAX in a research note on Friday, May 16th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, IMAX currently has an average rating of "Buy" and an average price target of $31.22.

IMAX Stock Up 0.6%

NYSE:IMAX opened at $27.63 on Friday. The firm has a market cap of $1.48 billion, a PE ratio of 56.39, a price-to-earnings-growth ratio of 1.49 and a beta of 0.79. IMAX Co. has a 12 month low of $14.94 and a 12 month high of $28.42. The company's 50-day moving average price is $25.13 and its two-hundred day moving average price is $25.13.

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, beating analysts' consensus estimates of $0.11 by $0.02. The firm had revenue of $86.67 million for 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 revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 earnings per share. On average, research analysts expect that IMAX Co. will post 0.91 EPS 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.

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