Polar Asset Management Partners Inc. Buys 134,389 Shares of IMAX Co. (NYSE:IMAX)

Polar Asset Management Partners Inc. raised its position in IMAX Co. (NYSE:IMAX - Free Report) by 191.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,536 shares of the company's stock after purchasing an additional 134,389 shares during the quarter. Polar Asset Management Partners Inc. owned 0.39% of IMAX worth $5,236,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC increased its position in 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 in the last quarter. Ameriprise Financial Inc. raised its stake in shares of IMAX by 36.9% in the 4th quarter. Ameriprise Financial Inc. now owns 1,823,516 shares of the company's stock valued at $46,671,000 after acquiring an additional 491,172 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of IMAX by 45.4% during the 4th 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 in the last quarter. Vanguard Group Inc. boosted its position in IMAX by 11.0% during the 4th quarter. Vanguard Group Inc. now owns 612,115 shares of the company's stock worth $15,670,000 after purchasing an additional 60,762 shares during the period. Finally, Oberweis Asset Management Inc. increased its holdings in IMAX by 29.7% in the 4th quarter. Oberweis Asset Management Inc. now owns 579,600 shares of the company's stock valued at $14,838,000 after purchasing an additional 132,600 shares in the last quarter. 93.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Benchmark restated a "buy" rating and set a $30.00 price objective on shares of IMAX in a research note on Thursday, April 10th. Wall Street Zen raised IMAX from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Barrington Research restated an "outperform" rating and issued a $32.00 price target on shares of IMAX in a report on Thursday, April 24th. JPMorgan Chase & Co. lowered their price objective on shares of IMAX from $27.00 to $26.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, B. Riley reissued a "buy" rating and set a $36.00 target price on shares of IMAX in a research report on Friday, May 16th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $31.22.

IMAX Price Performance

IMAX traded up $0.11 during trading on Friday, hitting $27.83. The company had a trading volume of 884,070 shares, compared to its average volume of 758,841. IMAX Co. has a 1-year low of $14.94 and a 1-year high of $28.37. The company has a market cap of $1.50 billion, a PE ratio of 56.80, a P/E/G ratio of 1.49 and a beta of 0.79. The business has a 50-day moving average of $25.04 and a 200-day moving average of $25.02.

IMAX (NYSE:IMAX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. IMAX had a return on equity of 8.60% and a net margin of 7.40%. The company had revenue of $86.67 million for the quarter, compared to the consensus estimate of $82.95 million. During the same quarter last year, the business posted $0.15 EPS. IMAX's quarterly revenue was up 9.6% compared to the same quarter last year. Research analysts forecast that IMAX Co. will post 0.91 earnings per share for the current 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.