Allspring Global Investments Holdings LLC lowered its stake in IMAX Co. (NYSE:IMAX – Free Report) by 18.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,435 shares of the company’s stock after selling 983 shares during the period. Allspring Global Investments Holdings LLC’s holdings in IMAX were worth $75,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Macquarie Group Ltd. raised its stake in IMAX by 16.8% during the first quarter. Macquarie Group Ltd. now owns 3,002,830 shares of the company’s stock worth $57,594,000 after acquiring an additional 431,231 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in IMAX by 11.1% during the first quarter. SRS Capital Advisors Inc. now owns 6,492 shares of the company’s stock worth $125,000 after acquiring an additional 650 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of IMAX by 5.6% during the first quarter. Geode Capital Management LLC now owns 434,320 shares of the company’s stock worth $8,330,000 after purchasing an additional 22,869 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of IMAX during the first quarter worth about $6,089,000. Finally, Becker Capital Management Inc. grew its holdings in shares of IMAX by 0.3% during the first quarter. Becker Capital Management Inc. now owns 241,941 shares of the company’s stock worth $4,640,000 after purchasing an additional 834 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on IMAX. Benchmark boosted their price target on IMAX from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, October 9th. StockNews.com upgraded IMAX from a “hold” rating to a “buy” rating in a report on Tuesday, October 24th. Rosenblatt Securities restated a “buy” rating and set a $30.00 price target on shares of IMAX in a report on Tuesday, October 10th. Wedbush restated an “outperform” rating and set a $26.00 price target on shares of IMAX in a report on Thursday, October 26th. Finally, Barrington Research restated an “outperform” rating and set a $24.00 price target on shares of IMAX in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.43.
IMAX Price Performance
Shares of IMAX stock opened at $16.92 on Friday. The business’s 50 day simple moving average is $18.40 and its 200 day simple moving average is $18.35. IMAX Co. has a one year low of $13.50 and a one year high of $21.82. The stock has a market capitalization of $924.00 million, a PE ratio of 36.78, a PEG ratio of 1.42 and a beta of 1.28.
IMAX (NYSE:IMAX – Get Free Report) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.15. The firm had revenue of $103.90 million for the quarter, compared to analysts’ expectations of $97.16 million. IMAX had a return on equity of 9.21% and a net margin of 6.57%. As a group, research analysts expect that IMAX Co. will post 0.6 earnings per share 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 through three segments: IMAX Technology Network; IMAX Technology Sales and Maintenance; and Film Distribution and Post-Production. 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.
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