IMAX Co. (NYSE:IMAX) Short Interest Update

IMAX Co. (NYSE:IMAX) was the recipient of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 4,510,000 shares, a decrease of 7.8% from the January 15th total of 4,890,000 shares. Based on an average trading volume of 585,500 shares, the short-interest ratio is presently 7.7 days. Approximately 10.8% of the shares of the stock are short sold.

Insider Buying and Selling at IMAX

In other IMAX news, insider Kenneth Ian Weissman sold 6,309 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.51, for a total transaction of $160,942.59. Following the sale, the insider now directly owns 25,139 shares of the company’s stock, valued at approximately $641,295.89. This represents a 20.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert D. Lister sold 55,910 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the sale, the executive vice president now directly owns 138,889 shares of the company’s stock, valued at approximately $3,541,669.50. The trade was a 28.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,176 shares of company stock worth $1,662,110 over the last three months. Company insiders own 24.08% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IMAX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in IMAX by 87.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 147,978 shares of the company’s stock valued at $3,788,000 after purchasing an additional 68,957 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of IMAX during the 4th quarter worth about $999,000. Two Sigma Investments LP bought a new stake in shares of IMAX in the 4th quarter valued at about $2,411,000. State of Wyoming raised its position in shares of IMAX by 184.6% in the 4th quarter. State of Wyoming now owns 21,606 shares of the company’s stock valued at $553,000 after acquiring an additional 14,014 shares during the period. Finally, Polar Asset Management Partners Inc. boosted its stake in IMAX by 191.6% during the 4th quarter. Polar Asset Management Partners Inc. now owns 204,536 shares of the company’s stock worth $5,236,000 after acquiring an additional 134,389 shares during the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

IMAX Stock Up 0.1 %

NYSE IMAX traded up $0.04 during trading hours on Tuesday, hitting $27.01. The company’s stock had a trading volume of 1,065,382 shares, compared to its average volume of 660,570. IMAX has a twelve month low of $14.90 and a twelve month high of $27.38. The firm has a market capitalization of $1.42 billion, a P/E ratio of 61.38, a PEG ratio of 1.40 and a beta of 1.22. The stock has a fifty day moving average of $24.60 and a 200 day moving average of $22.90.

Analyst Ratings Changes

Several brokerages have recently commented on IMAX. Barrington Research restated an “outperform” rating and set a $30.00 target price on shares of IMAX in a report on Friday, January 10th. Rosenblatt Securities reissued a “buy” rating and set a $28.00 price objective on shares of IMAX in a report on Thursday, January 16th. Roth Mkm boosted their target price on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Wedbush reissued an “outperform” rating and set a $32.00 price target on shares of IMAX in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of IMAX from $21.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, IMAX presently has an average rating of “Moderate Buy” and a consensus target price of $28.63.

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.