North Star Investment Management Corp. Purchases New Stake in IMAX Corporation (NYSE:IMAX)

North Star Investment Management Corp. acquired a new stake in shares of IMAX Corporation (NYSE:IMAX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,000 shares of the company's stock, valued at approximately $290,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Polar Asset Management Partners Inc. raised its stake in IMAX by 191.6% during the fourth quarter. Polar Asset Management Partners Inc. now owns 204,536 shares of the company's stock worth $5,236,000 after acquiring an additional 134,389 shares during the period. Principal Financial Group Inc. grew its holdings in shares of IMAX by 69.3% during the fourth quarter. Principal Financial Group Inc. now owns 103,946 shares of the company's stock valued at $2,661,000 after purchasing an additional 42,562 shares during the last quarter. Deutsche Bank AG raised its position in shares of IMAX by 765.1% during the 4th quarter. Deutsche Bank AG now owns 241,930 shares of the company's stock worth $6,193,000 after purchasing an additional 213,965 shares during the period. GAMMA Investing LLC lifted its holdings in shares of IMAX by 2,361.4% in the 1st quarter. GAMMA Investing LLC now owns 40,342 shares of the company's stock worth $10,630,000 after purchasing an additional 38,703 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of IMAX by 267.2% in the 4th quarter. BNP Paribas Financial Markets now owns 96,062 shares of the company's stock worth $2,459,000 after purchasing an additional 69,901 shares during the last quarter. Institutional investors and hedge funds own 93.51% of the company's stock.

IMAX Price Performance

Shares of IMAX stock traded down $0.09 during trading on Tuesday, hitting $29.15. The stock had a trading volume of 556,579 shares, compared to its average volume of 773,560. The business has a fifty day moving average of $25.58 and a two-hundred day moving average of $25.24. IMAX Corporation has a fifty-two week low of $15.63 and a fifty-two week high of $29.66. The firm has a market cap of $1.57 billion, a P/E ratio of 54.15, a PEG ratio of 1.85 and a beta of 0.81.

IMAX (NYSE:IMAX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. The firm had revenue of $86.67 million during the quarter, compared to analysts' expectations of $82.95 million. IMAX had a net margin of 6.98% and a return on equity of 7.79%. The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $0.15 earnings per share. As a group, research analysts forecast that IMAX Corporation will post 0.91 earnings per share for the current year.

IMAX declared that its Board of Directors has approved a stock repurchase program on Thursday, June 12th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $35.00 target price on shares of IMAX in a research report on Monday. 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. Macquarie lifted their price objective on shares of IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Benchmark restated a "buy" rating and issued a $30.00 target price on shares of IMAX in a research report on Thursday, April 10th. Finally, B. Riley restated a "buy" rating and issued a $36.00 price target on shares of IMAX in a research note on Friday, May 16th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $31.70.

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.