IMAX Corporation $IMAX Shares Newly Purchased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. bought a new stake in IMAX Corporation (NYSE:IMAX) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 106,460 shares of the company’s stock, valued at approximately $5,834,000. Jefferies Financial Group Inc. owned about 0.19% of IMAX as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IMAX. BlackRock Inc. bought a new stake in IMAX during the second quarter worth about $115,881,000. Nantahala Capital Management LLC acquired a new stake in IMAX during the second quarter worth approximately $26,228,239. Bank of America Corp DE bought a new position in shares of IMAX during the second quarter worth approximately $17,420,000. Royal Bank of Canada increased its stake in shares of IMAX by 126.5% during the first quarter. Royal Bank of Canada now owns 75,777 shares of the company’s stock worth $2,880,000 after purchasing an additional 362,021 shares during the period. Finally, Primecap Management Co. CA bought a new position in shares of IMAX during the second quarter worth approximately $10,902,000. 93.51% of the stock is owned by institutional investors.

IMAX Stock Performance

IMAX stock opened at $47.98 on Friday. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 1.00 and a beta of 0.54. The stock’s 50 day moving average price is $51.92 and its two-hundred day moving average price is $43.47. IMAX Corporation has a 52-week low of $32.71 and a 52-week high of $57.73.

IMAX (NYSE:IMAX) last issued its earnings results on Thursday, November 5th. The company reported $2.21 EPS for the quarter, beating the consensus estimate of $1.02 by $1.19. IMAX had a return on equity of 35.15% and a net margin of 27.70%. The company had revenue of $174.55 million during the quarter, compared to the consensus estimate of $168.53 million. During the same period last year, the business posted $0.47 EPS. The firm’s revenue for the quarter was up 63.6% compared to the same quarter last year. On average, equities research analysts forecast that IMAX Corporation will post 1.88 EPS for the current year.

Insider Buying and Selling

In other news, CEO Richard Gelfond sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $53.23, for a total value of $5,323,000.00. Following the transaction, the chief executive officer owned 665,002 shares in the company, valued at $35,398,056.46. This trade represents a 13.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Robert Lister sold 22,500 shares of IMAX stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $51.58, for a total value of $1,160,550.00. Following the transaction, the vice president directly owned 182,375 shares in the company, valued at approximately $9,406,902.50. The trade was a 10.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 507,257 shares of company stock valued at $26,673,571. 20.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

IMAX has been the subject of several recent research reports. Wall Street Zen upgraded IMAX from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Morgan Stanley initiated coverage on IMAX in a research report on Thursday, September 24th. They issued an “overweight” rating and a $63.00 price target on the stock. Barrington Research boosted their price objective on shares of IMAX from $46.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Wells Fargo & Company lowered their target price on IMAX from $55.00 to $52.00 and set an “equal weight” rating for the company in a research note on Friday, November 6th. Finally, Wedbush increased their price target on IMAX from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.08.

IMAX Company Profile

IMAX Corporation develops and operates technology and services for premium large-format cinema. Its offerings include specialized projection and sound systems, theater design and installation, and tools for remastering films for presentation on IMAX screens. The company also works with filmmakers and studios to release movies in the IMAX format, and it distributes documentary and feature-film content to its theater network. IMAX systems are used in commercial cinemas and in select educational and institutional venues.