Ion Asset Management Ltd. Reduces Stock Position in IMAX Co. (NYSE:IMAX)

Ion Asset Management Ltd. decreased its position in shares of IMAX Co. (NYSE:IMAX - Free Report) by 9.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 950,000 shares of the company's stock after selling 100,000 shares during the quarter. IMAX comprises approximately 1.4% of Ion Asset Management Ltd.'s investment portfolio, making the stock its 13th largest position. Ion Asset Management Ltd. owned approximately 1.80% of IMAX worth $24,320,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IMAX. Blue Trust Inc. increased its stake in shares of IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company's stock valued at $25,000 after acquiring an additional 561 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of IMAX by 415.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company's stock valued at $185,000 after purchasing an additional 5,832 shares during the period. Wealthfront Advisers LLC bought a new position in shares of IMAX during the 4th quarter worth about $217,000. Cornerstone Investment Partners LLC acquired a new stake in shares of IMAX in the 4th quarter valued at about $248,000. Finally, Savant Capital LLC bought a new stake in IMAX in the 4th quarter valued at about $249,000. Institutional investors and hedge funds own 93.51% of the company's stock.

IMAX Stock Performance

NYSE:IMAX traded up $0.72 during trading on Friday, reaching $24.87. The company's stock had a trading volume of 711,560 shares, compared to its average volume of 747,916. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 50.76, a price-to-earnings-growth ratio of 1.49 and a beta of 0.79. IMAX Co. has a 12 month low of $14.94 and a 12 month high of $27.77. The firm has a 50 day moving average of $24.47 and a 200-day moving average of $24.46.

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

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com raised IMAX from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Macquarie lifted their price target on shares of IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Wells Fargo & Company lowered their price objective on shares of IMAX from $32.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Rosenblatt Securities reiterated a "buy" rating and set a $35.00 price objective on shares of IMAX in a report on Thursday, April 24th. Finally, Barrington Research reiterated an "outperform" rating and set a $32.00 price target on shares of IMAX in a research note on Thursday, April 24th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $30.56.

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.