Mutual of America Capital Management LLC Sells 37,648 Shares of IMAX Corporation $IMAX

Key Points

• Mutual of America Capital Management LLC reduced its holdings in IMAX Corporation by 31.5% in Q2, selling 37,648 shares and now owns approximately 81,741 shares worth $2.285 million.
• IMAX reported $0.47 EPS for the latest quarter, exceeding analysts' expectations of $0.31, with a revenue of $106.65 million, representing a 16.6% year-over-year increase.
• A number of analysts have upgraded their price targets for IMAX, with Roth Capital raising it from $36.00 to $40.00 and nine analysts currently rating the stock as a Buy.

Mutual of America Capital Management LLC trimmed its holdings in shares of IMAX Corporation (NYSE:IMAX - Free Report) by 31.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 81,741 shares of the company's stock after selling 37,648 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.15% of IMAX worth $2,285,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Ridgewood Investments LLC purchased a new position in IMAX during the second quarter valued at approximately $62,000. Creative Financial Designs Inc. ADV purchased a new position in shares of IMAX in the first quarter worth $59,000. Y Intercept Hong Kong Ltd purchased a new position in shares of IMAX in the first quarter worth $202,000. Fox Run Management L.L.C. purchased a new position in shares of IMAX in the first quarter worth $289,000. Finally, Neuberger Berman Group LLC lifted its holdings in shares of IMAX by 4.1% in the first quarter. Neuberger Berman Group LLC now owns 13,838 shares of the company's stock worth $365,000 after buying an additional 542 shares in the last quarter. 93.51% of the stock is currently owned by institutional investors.

IMAX Trading Down 2.3%

IMAX opened at $31.71 on Friday. IMAX Corporation has a 12-month low of $20.17 and a 12-month high of $34.14. The firm has a market capitalization of $1.71 billion, a PE ratio of 44.65, a P/E/G ratio of 2.03 and a beta of 0.62. The firm has a 50 day moving average of $30.88 and a two-hundred day moving average of $27.85.

IMAX (NYSE:IMAX - Get Free Report) last released its quarterly earnings results on Thursday, October 23rd. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.16. IMAX had a net margin of 10.47% and a return on equity of 10.21%. The firm had revenue of $106.65 million for the quarter, compared to analysts' expectations of $102.88 million. During the same quarter last year, the company earned $0.35 EPS. The firm's revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, analysts predict that IMAX Corporation will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling at IMAX

In related news, VP Robert D. Lister sold 20,000 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $32.80, for a total value of $656,000.00. Following the sale, the vice president directly owned 161,421 shares in the company, valued at approximately $5,294,608.80. The trade was a 11.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kenneth Ian Weissman sold 15,072 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $25.65, for a total transaction of $386,596.80. Following the completion of the sale, the insider owned 26,133 shares in the company, valued at approximately $670,311.45. This trade represents a 36.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.18% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Roth Capital upped their price target on shares of IMAX from $36.00 to $40.00 and gave the company a "buy" rating in a research note on Tuesday, October 14th. Wall Street Zen raised shares of IMAX from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 11th. Rosenblatt Securities reiterated a "buy" rating and set a $42.00 price objective on shares of IMAX in a research report on Friday. B. Riley reiterated a "buy" rating on shares of IMAX in a research report on Friday, October 10th. Finally, Wells Fargo & Company boosted their price objective on shares of IMAX from $34.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday. Nine research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $35.80.

About IMAX

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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