Peregrine Capital Management LLC Lowers Stake in IMAX Co. (NYSE:IMAX)

Peregrine Capital Management LLC reduced its stake in IMAX Co. (NYSE:IMAX - Free Report) by 24.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 400,433 shares of the company's stock after selling 133,031 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.73% of IMAX worth $6,015,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in IMAX. Tower Research Capital LLC TRC grew its holdings in shares of IMAX by 164.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the company's stock worth $46,000 after purchasing an additional 2,029 shares during the period. SRS Capital Advisors Inc. grew its holdings in shares of IMAX by 11.1% during the 1st quarter. SRS Capital Advisors Inc. now owns 6,492 shares of the company's stock worth $125,000 after purchasing an additional 650 shares during the period. SG Americas Securities LLC purchased a new position in shares of IMAX during the 3rd quarter worth $139,000. State of Wyoming purchased a new position in shares of IMAX during the 2nd quarter worth $151,000. Finally, Engineers Gate Manager LP purchased a new position in shares of IMAX during the 3rd quarter worth $152,000. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

IMAX Stock Performance

IMAX stock traded down $0.01 during mid-day trading on Thursday, reaching $16.73. The company had a trading volume of 601,237 shares, compared to its average volume of 809,708. The company has a market capitalization of $885.61 million, a price-to-earnings ratio of 36.36, a price-to-earnings-growth ratio of 1.40 and a beta of 1.25. The firm has a fifty day simple moving average of $15.76 and a 200 day simple moving average of $16.25. IMAX Co. has a fifty-two week low of $13.20 and a fifty-two week high of $21.82.

IMAX (NYSE:IMAX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.12. The company had revenue of $86.02 million for the quarter, compared to analyst estimates of $85.83 million. IMAX had a return on equity of 9.59% and a net margin of 6.76%. IMAX's revenue for the quarter was down 12.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 EPS. As a group, analysts predict that IMAX Co. will post 0.58 earnings per share for the current year.

Insider Buying and Selling at IMAX

In other news, VP Robert D. Lister sold 25,000 shares of the firm's stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $16.87, for a total transaction of $421,750.00. Following the sale, the vice president now owns 138,889 shares of the company's stock, valued at approximately $2,343,057.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 24.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. StockNews.com cut IMAX from a "buy" rating to a "hold" rating in a report on Saturday, January 27th. The Goldman Sachs Group decreased their target price on IMAX from $15.00 to $13.00 and set a "sell" rating on the stock in a research note on Thursday, January 11th. Wedbush reissued an "outperform" rating and set a $22.00 target price on shares of IMAX in a research note on Wednesday. Barrington Research reissued an "outperform" rating and set a $24.00 target price on shares of IMAX in a research note on Wednesday, February 28th. Finally, B. Riley decreased their target price on IMAX from $27.00 to $21.00 and set a "buy" rating on the stock in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, IMAX has an average rating of "Moderate Buy" and an average price target of $20.57.

IMAX Company 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.