Polar Asset Management Partners Inc. Grows Stake in IMAX Co. (NYSE:IMAX)

Polar Asset Management Partners Inc. raised its holdings in IMAX Co. (NYSE:IMAX - Free Report) by 191.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 204,536 shares of the company's stock after acquiring an additional 134,389 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.39% of IMAX worth $5,236,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Blue Trust Inc. lifted its position in IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after buying an additional 561 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in IMAX by 415.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company's stock valued at $185,000 after buying an additional 5,832 shares during the period. Wealthfront Advisers LLC bought a new stake in shares of IMAX in the 4th quarter valued at about $217,000. Cornerstone Investment Partners LLC bought a new position in IMAX during the 4th quarter worth approximately $248,000. Finally, Savant Capital LLC bought a new stake in IMAX in the fourth quarter valued at approximately $249,000. Hedge funds and other institutional investors own 93.51% of the company's stock.

Analysts Set New Price Targets

IMAX has been the subject of several recent analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $35.00 price objective on shares of IMAX in a research note on Thursday, April 24th. StockNews.com raised shares of IMAX from a "hold" rating to a "buy" rating in a research note on Friday. Wells Fargo & Company reduced their target price on IMAX from $32.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. 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 boosted their price objective on shares of IMAX from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $31.22.

IMAX Trading Down 0.4%

IMAX traded down $0.11 during trading on Monday, hitting $27.12. 600,006 shares of the company's stock traded hands, compared to its average volume of 754,654. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 55.35, a PEG ratio of 1.49 and a beta of 0.79. IMAX Co. has a 12-month low of $14.94 and a 12-month high of $27.77. The company's 50 day simple moving average is $24.66 and its two-hundred day simple moving average is $24.82.

IMAX (NYSE:IMAX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. The business had revenue of $86.67 million during the quarter, compared to analyst estimates of $82.95 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. IMAX's revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 EPS. On average, equities 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.