Lord Abbett & CO. LLC Acquires 46,472 Shares of IMAX Co. (NYSE:IMAX)

Lord Abbett & CO. LLC raised its position in shares of IMAX Co. (NYSE:IMAX - Free Report) by 15.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 354,693 shares of the company's stock after buying an additional 46,472 shares during the quarter. Lord Abbett & CO. LLC owned about 0.67% of IMAX worth $9,080,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC grew its holdings in shares of IMAX by 14.2% during the fourth quarter. FMR LLC now owns 4,508,583 shares of the company's stock valued at $115,420,000 after buying an additional 558,940 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of IMAX in the fourth quarter worth approximately $9,143,000. Pier Capital LLC raised its holdings in shares of IMAX by 132.6% during the fourth quarter. Pier Capital LLC now owns 478,760 shares of the company's stock valued at $12,256,000 after purchasing an additional 272,949 shares during the last quarter. Wells Fargo & Company MN lifted its position in IMAX by 45.4% during the fourth 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 period. Finally, Norges Bank purchased a new stake in IMAX in the fourth quarter worth approximately $3,711,000. 93.51% of the stock is owned by hedge funds and other institutional investors.

IMAX Price Performance

Shares of IMAX stock traded down $0.18 during trading hours on Thursday, reaching $24.15. The company's stock had a trading volume of 645,035 shares, compared to its average volume of 750,161. The firm has a 50 day moving average price of $24.55 and a 200-day moving average price of $24.38. IMAX Co. has a one year low of $14.94 and a one year high of $27.77. The stock has a market cap of $1.30 billion, a P/E ratio of 49.29, a P/E/G ratio of 1.49 and a beta of 0.91.

IMAX (NYSE:IMAX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.13 earnings per share (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 during the quarter, compared to the consensus estimate of $82.95 million. During the same period last year, the company earned $0.15 earnings per share. IMAX's revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts forecast that IMAX Co. will post 0.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IMAX has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on IMAX from $27.00 to $26.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Benchmark reissued a "buy" rating and issued a $30.00 target price on shares of IMAX in a research report on Thursday, April 10th. Macquarie boosted their price target on IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Rosenblatt Securities reiterated a "buy" rating and issued a $35.00 price objective on shares of IMAX in a research note on Thursday, April 24th. Finally, Wedbush restated an "outperform" rating and set a $32.00 target price on shares of IMAX in a research report on Thursday, April 17th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $30.56.

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.