IMAX Co. (NYSE:IMAX) Stock Holdings Increased by Fmr LLC

Fmr LLC lifted its holdings in IMAX Co. (NYSE:IMAX) by 14.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,508,583 shares of the company’s stock after purchasing an additional 558,940 shares during the quarter. Fmr LLC owned 8.56% of IMAX worth $115,420,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. grew its position in IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after buying an additional 561 shares in the last quarter. Wealthfront Advisers LLC bought a new position in shares of IMAX in the fourth quarter valued at approximately $217,000. Cornerstone Investment Partners LLC acquired a new position in shares of IMAX during the fourth quarter valued at approximately $248,000. Savant Capital LLC bought a new stake in IMAX during the fourth quarter worth approximately $249,000. Finally, US Bancorp DE lifted its position in IMAX by 60.3% in the fourth quarter. US Bancorp DE now owns 12,276 shares of the company’s stock worth $314,000 after purchasing an additional 4,620 shares during the period. 93.51% of the stock is owned by institutional investors and hedge funds.

IMAX Stock Performance

NYSE IMAX opened at $21.59 on Tuesday. The firm’s 50 day moving average price is $25.29 and its two-hundred day moving average price is $24.18. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 44.06, a PEG ratio of 1.49 and a beta of 0.91. IMAX Co. has a twelve month low of $14.94 and a twelve month high of $27.77.

IMAX (NYSE:IMAX) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.14). IMAX had a net margin of 7.40% and a return on equity of 8.60%. The business had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. On average, research analysts forecast that IMAX Co. will post 0.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IMAX. StockNews.com downgraded IMAX from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. JPMorgan Chase & Co. cut their price target on shares of IMAX from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Friday. Wedbush reaffirmed an “outperform” rating and issued a $32.00 price objective on shares of IMAX in a research note on Thursday, February 20th. Macquarie increased their target price on shares of IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Benchmark reaffirmed a “buy” rating and issued a $30.00 price target on shares of IMAX in a report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.56.

IMAX 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.