Jane Street Group LLC Trims Stake in IMAX Co. (NYSE:IMAX)

Jane Street Group LLC decreased its stake in shares of IMAX Co. (NYSE:IMAX) by 44.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 73,342 shares of the company’s stock after selling 59,481 shares during the period. Jane Street Group LLC owned 0.14% of IMAX worth $1,504,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in IMAX. FMR LLC lifted its stake in shares of IMAX by 108.4% during the third quarter. FMR LLC now owns 3,949,643 shares of the company’s stock valued at $81,007,000 after buying an additional 2,054,031 shares during the period. Royce & Associates LP raised its stake in IMAX by 3.1% during the third quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock worth $37,382,000 after purchasing an additional 54,850 shares during the period. Victory Capital Management Inc. boosted its holdings in IMAX by 9.8% in the third quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company’s stock valued at $29,136,000 after acquiring an additional 127,371 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in IMAX by 5.5% in the second quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company’s stock valued at $13,740,000 after buying an additional 42,952 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in IMAX by 90.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after purchasing an additional 279,410 shares during the period. 93.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $24.00 price objective on shares of IMAX in a research report on Thursday, October 31st. StockNews.com raised IMAX from a “hold” rating to a “buy” rating in a research report on Tuesday. Wedbush reaffirmed an “outperform” rating on shares of IMAX in a report on Wednesday, November 27th. Roth Mkm upped their price objective on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $28.00 price target on shares of IMAX in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $25.11.

Insider Transactions at IMAX

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

IMAX Price Performance

Shares of IMAX opened at $25.09 on Friday. The business’s 50-day moving average is $24.42 and its 200-day moving average is $21.05. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 57.02, a P/E/G ratio of 1.69 and a beta of 1.23. IMAX Co. has a fifty-two week low of $13.20 and a fifty-two week high of $26.84.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.12. The business had revenue of $91.50 million during the quarter, compared to analyst estimates of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. IMAX’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period last year, the company earned $0.27 earnings per share. Equities research analysts expect that IMAX Co. will post 0.77 earnings per share for the current fiscal year.

About IMAX

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.