Squarepoint Ops LLC Reduces Stock Holdings in IMAX Corporation $IMAX

Squarepoint Ops LLC trimmed its position in shares of IMAX Corporation (NYSE:IMAX - Free Report) by 43.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 208,401 shares of the company's stock after selling 163,260 shares during the period. Squarepoint Ops LLC owned 0.38% of IMAX worth $8,307,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in IMAX by 76.3% in the 1st quarter. Principal Financial Group Inc. now owns 192,120 shares of the company's stock worth $7,302,000 after acquiring an additional 83,118 shares during the last quarter. Westfield Capital Management Co. LP raised its position in shares of IMAX by 44.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 2,346,486 shares of the company's stock valued at $86,726,000 after purchasing an additional 723,861 shares during the period. Manatuck Hill Partners LLC purchased a new stake in shares of IMAX during the 2nd quarter valued at approximately $3,679,000. Man Group plc bought a new position in IMAX in the 2nd quarter worth approximately $951,000. Finally, Militia Capital Management LLC purchased a new position in IMAX in the 1st quarter valued at approximately $1,634,000. 93.51% of the stock is currently owned by institutional investors.

IMAX Stock Performance

Shares of NYSE:IMAX opened at $51.29 on Friday. The firm has a market capitalization of $2.81 billion, a PE ratio of 71.24, a price-to-earnings-growth ratio of 1.60 and a beta of 0.40. IMAX Corporation has a 52-week low of $30.74 and a 52-week high of $55.57. The firm has a fifty day moving average of $47.29 and a 200 day moving average of $41.71.

IMAX (NYSE:IMAX - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.13. IMAX had a return on equity of 15.47% and a net margin of 9.84%.The firm had revenue of $102.84 million during the quarter, compared to analyst estimates of $96.09 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company's revenue was up 12.2% compared to the same quarter last year. On average, sell-side analysts forecast that IMAX Corporation will post 1.54 EPS for the current fiscal year.

Insider Activity at IMAX

In other IMAX news, CEO Richard L. Gelfond sold 205,504 shares of IMAX stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $53.27, for a total transaction of $10,947,198.08. Following the transaction, the chief executive officer directly owned 765,002 shares of the company's stock, valued at approximately $40,751,656.54. This trade represents a 21.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Natasha Fernandes sold 20,000 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $54.63, for a total transaction of $1,092,600.00. Following the completion of the sale, the chief financial officer owned 35,596 shares of the company's stock, valued at approximately $1,944,609.48. The trade was a 35.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 484,757 shares of company stock valued at $25,513,021. Corporate insiders own 20.55% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on IMAX. Roth Capital raised their price target on IMAX from $50.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, September 3rd. The Goldman Sachs Group raised their target price on IMAX from $42.00 to $50.00 and gave the stock a "neutral" rating in a research note on Friday, September 4th. Seaport Research Partners reaffirmed a "buy" rating and set a $50.00 target price on shares of IMAX in a report on Wednesday, June 24th. Rosenblatt Securities upped their price target on IMAX from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, B. Riley Financial raised their price objective on shares of IMAX from $52.00 to $61.00 and gave the company a "buy" rating in a research report on Monday, August 24th. Ten analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $54.45.

IMAX Company Profile

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.

Want to see what other hedge funds are holding IMAX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IMAX Corporation (NYSE:IMAX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.