Nuveen Asset Management LLC raised its position in IMAX Co. (NYSE:IMAX - Free Report) by 27.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 171,781 shares of the company's stock after purchasing an additional 37,408 shares during the quarter. Nuveen Asset Management LLC owned 0.33% of IMAX worth $4,398,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of IMAX. FMR LLC increased its stake in IMAX by 14.2% in the fourth 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. lifted its holdings 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 buying an additional 491,172 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in IMAX in the 4th quarter valued at about $9,143,000. Pier Capital LLC boosted its position in IMAX by 132.6% in the 4th quarter. Pier Capital LLC now owns 478,760 shares of the company's stock valued at $12,256,000 after buying an additional 272,949 shares during the period. Finally, Deutsche Bank AG grew its stake in IMAX by 765.1% in the 4th quarter. Deutsche Bank AG now owns 241,930 shares of the company's stock worth $6,193,000 after acquiring an additional 213,965 shares in the last quarter. Institutional investors own 93.51% of the company's stock.
IMAX Price Performance
Shares of IMAX remained flat at $27.93 during trading hours on Wednesday. 98,382 shares of the stock were exchanged, compared to its average volume of 878,203. The stock has a 50-day simple moving average of $25.06 and a two-hundred day simple moving average of $25.07. IMAX Co. has a 12-month low of $14.94 and a 12-month high of $28.42. The company has a market capitalization of $1.50 billion, a PE ratio of 57.00, a P/E/G ratio of 1.49 and a beta of 0.79.
IMAX (NYSE:IMAX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. The business had revenue of $86.67 million for 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 quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 EPS. On average, analysts anticipate that IMAX Co. will post 0.91 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages recently issued reports on IMAX. B. Riley reiterated a "buy" rating and issued a $36.00 price target on shares of IMAX in a report on Friday, May 16th. Benchmark reaffirmed a "buy" rating and set a $30.00 target price on shares of IMAX in a research report on Thursday, April 10th. JPMorgan Chase & Co. cut their price target on IMAX from $27.00 to $26.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company lowered their price objective on shares of IMAX from $32.00 to $30.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $32.00 price target on shares of IMAX in a research report on Thursday, April 17th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, IMAX has an average rating of "Buy" and an average price target of $31.22.
View Our Latest Analysis on IMAX
About IMAX
(
Free Report)
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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