Royce & Associates LP Acquires 54,850 Shares of IMAX Co. (NYSE:IMAX)

Royce & Associates LP boosted its holdings in IMAX Co. (NYSE:IMAX) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,822,616 shares of the company’s stock after purchasing an additional 54,850 shares during the quarter. Royce & Associates LP owned about 3.46% of IMAX worth $37,382,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of IMAX by 33.1% during the second quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock valued at $21,687,000 after buying an additional 321,506 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of IMAX by 178.7% during the first quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock valued at $7,934,000 after buying an additional 314,742 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in IMAX by 90.6% during the second quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after acquiring an additional 279,410 shares during the period. Pembroke Management LTD lifted its holdings in IMAX by 35.2% during the second quarter. Pembroke Management LTD now owns 474,761 shares of the company’s stock worth $7,962,000 after acquiring an additional 123,648 shares during the period. Finally, Private Capital Management LLC lifted its holdings in IMAX by 10.0% during the first quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock worth $21,092,000 after acquiring an additional 118,649 shares during the period. Institutional investors and hedge funds own 93.51% of the company’s stock.

Analyst Ratings Changes

IMAX has been the topic of a number of recent analyst reports. Roth Mkm lifted their price target on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Rosenblatt Securities reiterated a “buy” rating and set a $28.00 price target on shares of IMAX in a report on Thursday, October 31st. StockNews.com upgraded IMAX from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Finally, Seaport Res Ptn upgraded IMAX to a “strong-buy” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.22.

IMAX Stock Up 1.3 %

IMAX stock opened at $24.56 on Friday. The company has a market capitalization of $1.29 billion, a P/E ratio of 55.82, a PEG ratio of 1.59 and a beta of 1.22. The stock’s 50 day moving average is $21.31 and its 200 day moving average is $19.15. IMAX Co. has a twelve month low of $13.20 and a twelve month high of $25.28.

IMAX (NYSE:IMAX) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.12. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The firm had revenue of $91.50 million during the quarter, compared to analysts’ expectations of $93.71 million. During the same quarter in the previous year, the business earned $0.27 earnings per share. The company’s revenue was down 11.9% on a year-over-year basis. As a group, equities analysts expect that IMAX Co. will post 0.76 EPS for the current year.

IMAX Company 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.