Franklin Resources Inc. Has $13.16 Million Holdings in IMAX Co. (NYSE:IMAX)

Franklin Resources Inc. cut its holdings in IMAX Co. (NYSE:IMAXFree Report) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 876,082 shares of the company’s stock after selling 17,984 shares during the quarter. Franklin Resources Inc. owned 1.60% of IMAX worth $13,159,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of IMAX. Partnership Wealth Management LLC bought a new stake in shares of IMAX during the fourth quarter valued at approximately $111,000. C M Bidwell & Associates Ltd. bought a new stake in shares of IMAX during the third quarter valued at approximately $160,000. SG Americas Securities LLC increased its holdings in shares of IMAX by 65.5% during the fourth quarter. SG Americas Securities LLC now owns 11,868 shares of the company’s stock valued at $178,000 after acquiring an additional 4,699 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of IMAX during the third quarter valued at approximately $198,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of IMAX during the fourth quarter valued at approximately $238,000. Institutional investors own 93.51% of the company’s stock.

IMAX Stock Performance

Shares of IMAX opened at $16.64 on Thursday. The stock’s 50-day simple moving average is $16.65 and its 200 day simple moving average is $15.86. The stock has a market capitalization of $875.60 million, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. IMAX Co. has a 52-week low of $13.20 and a 52-week high of $20.70.

IMAX (NYSE:IMAXGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. The business had revenue of $79.12 million for the quarter, compared to analysts’ expectations of $77.88 million. IMAX had a return on equity of 9.47% and a net margin of 7.13%. On average, research analysts forecast that IMAX Co. will post 0.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on IMAX shares. Rosenblatt Securities decreased their price objective on IMAX from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. Barrington Research reiterated an “outperform” rating and set a $24.00 price target on shares of IMAX in a report on Monday, April 22nd. Wedbush reiterated an “outperform” rating and set a $22.00 price target on shares of IMAX in a report on Friday, April 26th. Benchmark reiterated a “buy” rating and set a $22.00 price target on shares of IMAX in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. decreased their price target on IMAX from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. One equities research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.57.

Read Our Latest Stock Report on IMAX

Insider Buying and Selling at IMAX

In other IMAX news, VP Robert D. Lister sold 25,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $16.87, for a total value of $421,750.00. Following the sale, the vice president now owns 138,889 shares of the company’s stock, valued at approximately $2,343,057.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other IMAX news, VP Robert D. Lister sold 25,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $16.87, for a total value of $421,750.00. Following the sale, the vice president now owns 138,889 shares of the company’s stock, valued at approximately $2,343,057.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Calamera Pablo sold 6,130 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $17.05, for a total value of $104,516.50. Following the completion of the sale, the executive vice president now directly owns 42,269 shares in the company, valued at approximately $720,686.45. The disclosure for this sale can be found here. Insiders own 24.08% of the company’s stock.

About IMAX

(Free Report)

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.

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Institutional Ownership by Quarter for IMAX (NYSE:IMAX)

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