IMAX Co. (NYSE:IMAX) Short Interest Update

IMAX Co. (NYSE:IMAX) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 4,770,000 shares, a decrease of 5.9% from the October 15th total of 5,070,000 shares. Currently, 11.3% of the company’s shares are short sold. Based on an average daily trading volume, of 641,200 shares, the short-interest ratio is presently 7.4 days.

IMAX Price Performance

IMAX opened at $24.36 on Tuesday. The firm has a market capitalization of $1.28 billion, a PE ratio of 55.36, a price-to-earnings-growth ratio of 1.59 and a beta of 1.22. The business’s 50-day moving average is $21.44 and its two-hundred day moving average is $19.30. IMAX has a 1 year low of $13.20 and a 1 year high of $25.28.

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

Analyst Ratings Changes

A number of research analysts have weighed in on IMAX shares. Roth Mkm boosted their price objective on shares of IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on shares of IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Seaport Res Ptn upgraded IMAX to a “strong-buy” rating in a report on Wednesday, July 24th. Rosenblatt Securities restated a “buy” rating and set a $28.00 price objective on shares of IMAX in a report on Thursday, October 31st. Finally, Macquarie increased their target price on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.22.

Institutional Investors Weigh In On IMAX

Large investors have recently made changes to their positions in the stock. Huntington National Bank purchased a new stake in IMAX during the 3rd quarter valued at about $34,000. Headlands Technologies LLC purchased a new position in shares of IMAX in the second quarter worth about $35,000. Quarry LP boosted its position in IMAX by 78,333.3% in the third quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after buying an additional 2,350 shares during the last quarter. nVerses Capital LLC acquired a new position in IMAX in the 3rd quarter worth approximately $70,000. Finally, Summit Securities Group LLC purchased a new position in IMAX during the 2nd quarter worth approximately $80,000. 93.51% of the stock is owned by hedge funds and other institutional investors.

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.