PDT Partners LLC Acquires Shares of 101,867 IMAX Co. (NYSE:IMAX)

PDT Partners LLC bought a new stake in IMAX Co. (NYSE:IMAX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 101,867 shares of the company's stock, valued at approximately $2,608,000. PDT Partners LLC owned about 0.19% of IMAX at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Blue Trust Inc. lifted its stake in IMAX by 138.5% during the 4th quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after acquiring an additional 561 shares in the last quarter. Tower Research Capital LLC TRC lifted its position 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 worth $185,000 after purchasing an additional 5,832 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in shares of IMAX in the fourth quarter valued at approximately $217,000. Cornerstone Investment Partners LLC purchased a new stake in IMAX during the 4th quarter worth approximately $248,000. Finally, Savant Capital LLC acquired a new stake in IMAX during the 4th quarter worth approximately $249,000. Hedge funds and other institutional investors own 93.51% of the company's stock.

Analyst Upgrades and Downgrades

IMAX has been the subject of several research reports. StockNews.com upgraded shares of IMAX from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Wedbush reissued an "outperform" rating and set a $32.00 target price on shares of IMAX in a research note on Thursday, April 17th. Benchmark reaffirmed a "buy" rating and issued a $30.00 price target on shares of IMAX in a research report on Thursday, April 10th. JPMorgan Chase & Co. lowered their price objective on IMAX from $27.00 to $26.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, Macquarie raised their target price on shares of IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $30.56.

IMAX Trading Up 3.0 %

NYSE:IMAX traded up $0.72 during midday trading on Friday, hitting $24.87. 711,560 shares of the company were exchanged, compared to its average volume of 747,261. IMAX Co. has a fifty-two week low of $14.94 and a fifty-two week high of $27.77. The company has a market capitalization of $1.34 billion, a PE ratio of 50.76, a price-to-earnings-growth ratio of 1.49 and a beta of 0.91. The company has a fifty day simple moving average of $24.47 and a 200 day simple moving average of $24.43.

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

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.