Loomis Sayles & Co. L P acquired a new position in Imax Corp (NYSE:IMAX) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 550,348 shares of the company’s stock, valued at approximately $14,199,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of IMAX. Jennison Associates LLC purchased a new stake in shares of Imax in the third quarter worth $61,118,000. Rice Hall James & Associates LLC purchased a new stake in shares of Imax in the third quarter worth $11,298,000. BlackRock Inc. grew its stake in shares of Imax by 8.2% in the second quarter. BlackRock Inc. now owns 2,862,906 shares of the company’s stock worth $63,414,000 after acquiring an additional 215,910 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Imax by 13.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,622,161 shares of the company’s stock worth $35,931,000 after acquiring an additional 186,989 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Imax by 125.9% in the second quarter. Wells Fargo & Company MN now owns 333,875 shares of the company’s stock worth $7,396,000 after acquiring an additional 186,071 shares during the last quarter. Institutional investors and hedge funds own 76.52% of the company’s stock.
Imax stock opened at $18.53 on Friday. Imax Corp has a one year low of $18.13 and a one year high of $26.10. The firm has a market cap of $1.17 billion, a P/E ratio of 102.94, a price-to-earnings-growth ratio of 1.55 and a beta of 1.17.
Imax (NYSE:IMAX) last released its quarterly earnings data on Thursday, October 25th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.04 by $0.10. Imax had a return on equity of 6.87% and a net margin of 6.64%. The company had revenue of $82.11 million for the quarter, compared to analysts’ expectations of $80.26 million. As a group, research analysts predict that Imax Corp will post 0.64 EPS for the current fiscal year.
A number of research firms have recently commented on IMAX. B. Riley set a $34.00 target price on Imax and gave the stock a “buy” rating in a research note on Friday. ValuEngine cut Imax from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Barrington Research cut their target price on Imax to $27.00 and set an “outperform” rating on the stock in a research note on Monday, October 29th. Zacks Investment Research raised Imax from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Tuesday, September 25th. Finally, Wedbush set a $29.00 target price on Imax and gave the stock a “buy” rating in a research note on Monday, October 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $26.72.
IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company that specializes in motion picture technologies and presentations worldwide. It offers cinematic solution comprising proprietary software, theater architecture, and equipment. The company engages in Digital Re-Mastering (DMR) of films into the IMAX format for exhibition in the IMAX theater network; the provision of IMAX premium theater systems to exhibitor customers through sales, long-term leases, or joint revenue sharing arrangements; the distribution of documentary films; the provision of production technical support and film post-production services; the ownership and operation of IMAX theaters; and the provision of camera and other miscellaneous items rental services.
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