Alpine Woods Capital Investors LLC Has $1.19 Million Holdings in IMAX Corporation (NYSE:IMAX)

Alpine Woods Capital Investors LLC lessened its stake in IMAX Corporation (NYSE:IMAX - Free Report) by 72.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,325 shares of the company's stock after selling 121,775 shares during the quarter. Alpine Woods Capital Investors LLC owned about 0.08% of IMAX worth $1,194,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IMAX. US Bancorp DE boosted its holdings in IMAX by 60.3% in the 4th quarter. US Bancorp DE now owns 12,276 shares of the company's stock worth $314,000 after acquiring an additional 4,620 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of IMAX during the 4th quarter valued at approximately $502,000. Raymond James Financial Inc. purchased a new position in shares of IMAX during the 4th quarter valued at approximately $9,143,000. Wealthfront Advisers LLC purchased a new position in shares of IMAX during the 4th quarter valued at approximately $217,000. Finally, Intech Investment Management LLC boosted 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 during the last quarter. Hedge funds and other institutional investors own 93.51% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on IMAX shares. Rosenblatt Securities reiterated a "buy" rating and set a $35.00 target price on shares of IMAX in a research note on Friday. Wedbush reiterated an "outperform" rating on shares of IMAX in a research note on Friday. Barrington Research reiterated an "outperform" rating and set a $32.00 target price on shares of IMAX in a research note on Thursday, April 24th. Wall Street Zen upgraded IMAX from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Roth Capital restated a "buy" rating and set a $36.00 price objective on shares of IMAX in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $31.70.

IMAX Stock Up 2.7%

NYSE IMAX traded up $0.71 during trading hours on Friday, hitting $26.88. The company had a trading volume of 1,003,931 shares, compared to its average volume of 793,059. IMAX Corporation has a fifty-two week low of $16.87 and a fifty-two week high of $29.66. The business has a fifty day simple moving average of $27.26 and a 200-day simple moving average of $25.50. The firm has a market cap of $1.44 billion, a P/E ratio of 57.19, a price-to-earnings-growth ratio of 1.72 and a beta of 0.80.

IMAX (NYSE:IMAX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping 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 return on equity of 7.79% and a net margin of 6.98%. IMAX's revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.15 earnings per share. Equities analysts forecast that IMAX Corporation will post 0.91 EPS for the current fiscal year.

IMAX declared that its board has initiated a share repurchase program on Thursday, June 12th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

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.