SG Americas Securities LLC Buys 4,699 Shares of IMAX Co. (NYSE:IMAX)

SG Americas Securities LLC increased its position in shares of IMAX Co. (NYSE:IMAX) by 65.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,868 shares of the company’s stock after purchasing an additional 4,699 shares during the quarter. SG Americas Securities LLC’s holdings in IMAX were worth $178,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IMAX. Macquarie Group Ltd. increased its holdings in IMAX by 16.8% in the 1st quarter. Macquarie Group Ltd. now owns 3,002,830 shares of the company’s stock valued at $57,594,000 after buying an additional 431,231 shares during the period. Invesco Ltd. boosted its position in shares of IMAX by 2.2% during the 1st quarter. Invesco Ltd. now owns 2,217,169 shares of the company’s stock valued at $41,971,000 after acquiring an additional 48,232 shares in the last quarter. Millennium Management LLC increased its stake in IMAX by 21.3% in the fourth quarter. Millennium Management LLC now owns 2,194,019 shares of the company’s stock valued at $32,164,000 after acquiring an additional 385,912 shares during the period. Alliancebernstein L.P. raised its position in IMAX by 1.8% in the fourth quarter. Alliancebernstein L.P. now owns 2,018,885 shares of the company’s stock worth $29,597,000 after purchasing an additional 36,620 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in IMAX by 6.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,684,780 shares of the company’s stock worth $32,313,000 after purchasing an additional 107,989 shares during the period. 93.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IMAX. Rosenblatt Securities lowered their price objective on IMAX from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, February 13th. Benchmark reiterated a “buy” rating and issued a $22.00 price target on shares of IMAX in a research report on Wednesday, April 10th. Barrington Research reissued an “outperform” rating and set a $24.00 price objective on shares of IMAX in a report on Wednesday, February 28th. Wedbush restated an “outperform” rating and issued a $22.00 target price on shares of IMAX in a research note on Wednesday, April 10th. Finally, The Goldman Sachs Group dropped their target price on shares of IMAX from $15.00 to $13.00 and set a “sell” rating for the company in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.57.

Insiders Place Their Bets

In other IMAX news, VP Robert D. Lister sold 25,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the completion of the transaction, the vice president now directly owns 138,889 shares of the company’s stock, valued at $2,343,057.43. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 24.33% of the company’s stock.

IMAX Stock Performance

IMAX stock opened at $16.43 on Monday. The business’s fifty day moving average is $15.81 and its two-hundred day moving average is $16.18. The firm has a market cap of $869.97 million, a P/E ratio of 35.72, a P/E/G ratio of 1.42 and a beta of 1.25. IMAX Co. has a 52 week low of $13.20 and a 52 week high of $21.82.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.12. IMAX had a return on equity of 9.59% and a net margin of 6.76%. The business had revenue of $86.02 million during the quarter, compared to analysts’ expectations of $85.83 million. During the same period in the previous year, the business posted $0.05 earnings per share. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. On average, equities research analysts predict that IMAX Co. will post 0.58 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 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.