IMAX Co. (NYSE:IMAX) Shares Sold by Alpine Woods Capital Investors LLC

Alpine Woods Capital Investors LLC trimmed its stake in IMAX Co. (NYSE:IMAX - Free Report) by 55.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 174,750 shares of the company's stock after selling 217,528 shares during the period. Alpine Woods Capital Investors LLC owned about 0.32% of IMAX worth $2,625,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legal & General Group Plc grew its holdings in shares of IMAX by 1.4% in the fourth quarter. Legal & General Group Plc now owns 43,759 shares of the company's stock valued at $642,000 after purchasing an additional 613 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in shares of IMAX by 11.1% in the first quarter. SRS Capital Advisors Inc. now owns 6,492 shares of the company's stock valued at $125,000 after purchasing an additional 650 shares in the last quarter. Becker Capital Management Inc. grew its holdings in shares of IMAX by 0.3% in the first quarter. Becker Capital Management Inc. now owns 241,941 shares of the company's stock valued at $4,640,000 after purchasing an additional 834 shares in the last quarter. Sei Investments Co. grew its holdings in shares of IMAX by 0.6% in the second quarter. Sei Investments Co. now owns 151,871 shares of the company's stock valued at $2,580,000 after purchasing an additional 943 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of IMAX by 8.9% in the third quarter. Arizona State Retirement System now owns 13,212 shares of the company's stock valued at $255,000 after purchasing an additional 1,085 shares in the last quarter. 93.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wedbush reiterated an "outperform" rating and set a $22.00 price target on shares of IMAX in a report on Monday, March 4th. JPMorgan Chase & Co. lowered their price target on shares of IMAX from $20.00 to $17.00 and set a "neutral" rating for the company in a report on Tuesday, February 6th. Benchmark lowered their price target on shares of IMAX from $24.00 to $22.00 and set a "buy" rating for the company in a report on Thursday, January 18th. B. Riley lowered their price target on shares of IMAX from $27.00 to $21.00 and set a "buy" rating for the company in a report on Tuesday, January 2nd. Finally, Rosenblatt Securities lowered their price target on shares of IMAX from $30.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, IMAX presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.57.

IMAX Price Performance

Shares of IMAX stock traded up $0.09 during trading hours on Friday, hitting $16.15. The company had a trading volume of 805,158 shares, compared to its average volume of 605,043. The company's 50-day moving average is $15.55 and its two-hundred day moving average is $16.28. IMAX Co. has a twelve month low of $13.20 and a twelve month high of $21.82. The company has a market cap of $855.14 million, a P/E ratio of 35.11, a price-to-earnings-growth ratio of 1.39 and a beta of 1.25.

IMAX (NYSE:IMAX - Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.12. IMAX had a net margin of 6.76% and a return on equity of 9.59%. The business had revenue of $86.02 million during the quarter, compared to analysts' expectations of $85.83 million. During the same quarter in the prior year, the business posted $0.05 EPS. The company's revenue for the quarter was down 12.3% on a year-over-year basis. Sell-side analysts expect that IMAX Co. will post 0.58 EPS for the current year.

Insider Activity at IMAX

In related news, VP Robert D. Lister sold 25,000 shares of the company's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the completion of the sale, the vice president now owns 138,889 shares in the company, valued at approximately $2,343,057.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 24.33% of the stock is owned by insiders.

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.