18,100 Shares in IMAX Co. (NYSE:IMAX) Acquired by Wesbanco Bank Inc.

Wesbanco Bank Inc. purchased a new position in shares of IMAX Co. (NYSE:IMAX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,100 shares of the company's stock, valued at approximately $477,000.

A number of other institutional investors have also added to or reduced their stakes in IMAX. FMR LLC boosted its stake 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. lifted its holdings in IMAX by 36.9% during the fourth quarter. Ameriprise Financial Inc. now owns 1,823,516 shares of the company's stock worth $46,671,000 after acquiring an additional 491,172 shares during the period. Wells Fargo & Company MN lifted its holdings in IMAX by 45.4% during the fourth quarter. Wells Fargo & Company MN now owns 624,510 shares of the company's stock worth $15,987,000 after acquiring an additional 194,917 shares during the period. Vanguard Group Inc. boosted its position in IMAX by 11.0% in the fourth 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 last quarter. Finally, Oberweis Asset Management Inc. grew its stake 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 during the period. 93.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their target price on IMAX from $27.00 to $26.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. B. Riley reaffirmed a "buy" rating and issued a $36.00 price objective on shares of IMAX in a research report on Friday, May 16th. Wall Street Zen upgraded shares of IMAX from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Wells Fargo & Company decreased their price target 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, Barrington Research reaffirmed an "outperform" rating and issued a $32.00 price target on shares of IMAX in a report on Thursday, April 24th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $31.22.

IMAX Stock Up 3.6%

IMAX traded up $1.00 on Thursday, hitting $28.58. The company's stock had a trading volume of 1,484,118 shares, compared to its average volume of 765,329. IMAX Co. has a 12 month low of $14.96 and a 12 month high of $29.16. The firm has a market cap of $1.54 billion, a P/E ratio of 58.33, a price-to-earnings-growth ratio of 1.49 and a beta of 0.81. The company's 50 day simple moving average is $25.32 and its 200-day simple moving average is $25.20.

IMAX (NYSE:IMAX - Get Free Report) last posted its quarterly 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. The firm had revenue of $86.67 million during the quarter, compared to analyst estimates of $82.95 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. The business's revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the company earned $0.15 earnings per share. Equities analysts predict that IMAX Co. will post 0.91 earnings per share for the current fiscal year.

IMAX declared that its board has authorized a share buyback plan on Thursday, June 12th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 6.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

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.