IMAX Co. (NYSE:IMAX) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its position in shares of IMAX Co. (NYSE:IMAX - Free Report) by 42.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 314,000 shares of the company's stock after selling 231,241 shares during the period. Renaissance Technologies LLC owned approximately 0.60% of IMAX worth $8,038,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in IMAX by 69.3% in the fourth quarter. Principal Financial Group Inc. now owns 103,946 shares of the company's stock worth $2,661,000 after acquiring an additional 42,562 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of IMAX by 116.1% in the fourth quarter. Intech Investment Management LLC now owns 21,589 shares of the company's stock valued at $553,000 after acquiring an additional 11,597 shares during the period. Raymond James Financial Inc. purchased a new position in shares of IMAX during the fourth quarter valued at approximately $9,143,000. Savant Capital LLC purchased a new stake in shares of IMAX in the fourth quarter worth approximately $249,000. Finally, Lord Abbett & CO. LLC purchased a new position in IMAX during the 3rd quarter valued at $6,322,000. Hedge funds and other institutional investors own 93.51% of the company's stock.

Analyst Ratings Changes

IMAX has been the topic of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of IMAX from $26.00 to $32.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Macquarie boosted their price target on IMAX from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Benchmark restated a "buy" rating and set a $30.00 price objective on shares of IMAX in a report on Thursday, April 10th. Barrington Research upped their target price on IMAX from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut their price target on IMAX from $27.00 to $26.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $30.56.

IMAX Trading Up 3.0 %

Shares of NYSE:IMAX traded up $0.70 during trading on Wednesday, reaching $24.20. The stock had a trading volume of 412,004 shares, compared to its average volume of 762,376. The firm's 50-day simple moving average is $24.89 and its 200 day simple moving average is $24.25. IMAX Co. has a one year low of $14.94 and a one year high of $27.77. The company has a market capitalization of $1.28 billion, a P/E ratio of 49.39, a PEG ratio of 1.49 and a beta of 0.91.

IMAX (NYSE:IMAX - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.14). IMAX had a return on equity of 8.60% and a net margin of 7.40%. The firm had revenue of $92.67 million during the quarter, compared to analysts' expectations of $104.08 million. Equities research analysts forecast that IMAX Co. will post 0.91 earnings per share for the current fiscal 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.