Manatuck Hill Partners LLC Buys 15,000 Shares of IMAX Co. (NYSE:IMAX)

Manatuck Hill Partners LLC boosted its stake in IMAX Co. (NYSE:IMAX - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 315,000 shares of the company's stock after buying an additional 15,000 shares during the quarter. IMAX makes up about 3.3% of Manatuck Hill Partners LLC's holdings, making the stock its 6th biggest position. Manatuck Hill Partners LLC owned about 0.60% of IMAX worth $8,064,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of IMAX. Janney Montgomery Scott LLC grew its stake in shares of IMAX by 1.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company's stock valued at $747,000 after buying an additional 533 shares during the period. Blue Trust Inc. increased its stake in IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after acquiring an additional 561 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of IMAX by 3.4% in the 4th quarter. MetLife Investment Management LLC now owns 25,918 shares of the company's stock worth $664,000 after purchasing an additional 848 shares during the period. State of Tennessee Department of Treasury lifted its stake in shares of IMAX by 19.8% in the 4th quarter. State of Tennessee Department of Treasury now owns 9,827 shares of the company's stock valued at $252,000 after purchasing an additional 1,627 shares in the last quarter. Finally, Hedges Asset Management LLC grew its holdings in shares of IMAX by 3.1% during the 4th quarter. Hedges Asset Management LLC now owns 83,600 shares of the company's stock worth $2,140,000 after purchasing an additional 2,500 shares during the period. Institutional investors and hedge funds own 93.51% of the company's stock.

Analysts Set New Price Targets

IMAX has been the topic of a number of recent research reports. Benchmark reaffirmed a "buy" rating and set a $30.00 price target on shares of IMAX in a research report on Thursday, April 10th. StockNews.com upgraded IMAX from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Wells Fargo & Company lowered their price target on shares of IMAX from $32.00 to $30.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Barrington Research reaffirmed an "outperform" rating and issued a $32.00 target price on shares of IMAX in a research report on Thursday, April 24th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $35.00 price target on shares of IMAX in a research note on Thursday, April 24th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $30.56.

IMAX Stock Performance

Shares of IMAX stock traded up $0.72 during trading hours on Tuesday, reaching $25.06. The company's stock had a trading volume of 801,073 shares, compared to its average volume of 751,214. The company's 50 day simple moving average is $24.45 and its 200 day simple moving average is $24.50. 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 $1.35 billion, a P/E ratio of 51.15, a price-to-earnings-growth ratio of 1.49 and a beta of 0.79.

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