Squarepoint Ops LLC Sells 163,260 Shares of IMAX Corporation $IMAX

Squarepoint Ops LLC lessened its stake in IMAX Corporation (NYSE:IMAX) by 43.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 208,401 shares of the company’s stock after selling 163,260 shares during the period. Squarepoint Ops LLC’s holdings in IMAX were worth $8,307,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. AQR Capital Management LLC increased its stake in IMAX by 47.9% in the 1st quarter. AQR Capital Management LLC now owns 56,348 shares of the company’s stock worth $1,485,000 after purchasing an additional 18,238 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in IMAX by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,486 shares of the company’s stock valued at $672,000 after purchasing an additional 1,091 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of IMAX by 7.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,714 shares of the company’s stock valued at $4,208,000 after purchasing an additional 11,736 shares during the period. Creative Planning boosted its stake in shares of IMAX by 84.1% during the second quarter. Creative Planning now owns 16,081 shares of the company’s stock valued at $450,000 after purchasing an additional 7,344 shares during the period. Finally, Norges Bank bought a new position in shares of IMAX in the second quarter worth approximately $709,000. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

IMAX Stock Performance

IMAX opened at $51.29 on Friday. The stock has a market capitalization of $2.81 billion, a PE ratio of 71.24, a price-to-earnings-growth ratio of 1.60 and a beta of 0.40. The stock’s 50 day moving average price is $47.29 and its 200-day moving average price is $41.71. IMAX Corporation has a 52-week low of $30.74 and a 52-week high of $55.57.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.13. The company had revenue of $102.84 million during the quarter, compared to analyst estimates of $96.09 million. IMAX had a return on equity of 15.47% and a net margin of 9.84%.The firm’s revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 earnings per share. Research analysts forecast that IMAX Corporation will post 1.54 EPS for the current fiscal year.

Analysts Set New Price Targets

IMAX has been the topic of several analyst reports. HC Wainwright reaffirmed a “buy” rating on shares of IMAX in a research note on Friday, July 24th. Benchmark reissued a “buy” rating on shares of IMAX in a report on Monday, June 22nd. Wall Street Zen upgraded shares of IMAX from a “hold” rating to a “buy” rating in a research report on Saturday, September 5th. Roth Capital upped their price objective on shares of IMAX from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Finally, B. Riley Financial increased their target price on shares of IMAX from $52.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, IMAX has an average rating of “Moderate Buy” and a consensus target price of $54.45.

Insiders Place Their Bets

In other news, CEO Richard L. Gelfond sold 205,504 shares of IMAX stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $53.27, for a total transaction of $10,947,198.08. Following the sale, the chief executive officer owned 765,002 shares of the company’s stock, valued at approximately $40,751,656.54. The trade was a 21.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Natasha Fernandes sold 20,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $54.63, for a total transaction of $1,092,600.00. Following the transaction, the chief financial officer owned 35,596 shares in the company, valued at $1,944,609.48. This represents a 35.97% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 484,757 shares of company stock worth $25,513,021. 20.55% of the stock is currently owned by corporate insiders.

IMAX Company Profile

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.