ProShare Advisors LLC Invests $309,000 in IMAX Co. (NYSE:IMAX)

ProShare Advisors LLC bought a new position in IMAX Co. (NYSE:IMAX - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 12,073 shares of the company's stock, valued at approximately $309,000.

A number of other large investors have also recently made changes to their positions in the business. FMR LLC increased its holdings in shares of IMAX by 14.2% in the 4th quarter. FMR LLC now owns 4,508,583 shares of the company's stock worth $115,420,000 after buying an additional 558,940 shares during the last quarter. Ameriprise Financial Inc. grew 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 purchasing an additional 491,172 shares during the last quarter. Wells Fargo & Company MN grew its holdings in 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 purchasing an additional 194,917 shares during the last quarter. Vanguard Group Inc. grew its holdings in IMAX by 11.0% during the 4th quarter. Vanguard Group Inc. now owns 612,115 shares of the company's stock valued at $15,670,000 after purchasing an additional 60,762 shares during the last quarter. Finally, Oberweis Asset Management Inc. grew its holdings in IMAX by 29.7% during 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 during the last quarter. 93.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wedbush reiterated an "outperform" rating and set a $32.00 price target on shares of IMAX in a report on Thursday, April 17th. JPMorgan Chase & Co. lowered their price target 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. Wall Street Zen raised shares of IMAX from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Rosenblatt Securities reissued a "buy" rating and set a $35.00 target price on shares of IMAX in a research report on Thursday, April 24th. Finally, B. Riley reaffirmed a "buy" rating and issued a $36.00 price target on shares of IMAX in a report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $31.22.

IMAX Price Performance

IMAX stock traded up $0.11 during midday trading on Friday, hitting $27.83. 884,070 shares of the stock traded hands, compared to its average volume of 758,841. The firm has a market cap of $1.50 billion, a P/E ratio of 56.80, a PEG ratio of 1.49 and a beta of 0.79. The stock's fifty day simple moving average is $25.04 and its 200-day simple moving average is $25.02. IMAX Co. has a 1-year low of $14.94 and a 1-year high of $28.37.

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

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.