Russell Investments Group Ltd. Acquires 55,110 Shares of IMAX Co. (NYSE:IMAX)

Russell Investments Group Ltd. increased its holdings in shares of IMAX Co. (NYSE:IMAX) by 57,406.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,206 shares of the company’s stock after acquiring an additional 55,110 shares during the quarter. Russell Investments Group Ltd. owned about 0.10% of IMAX worth $1,413,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after acquiring an additional 561 shares during the period. Wealthfront Advisers LLC bought a new stake in IMAX in the 4th quarter valued at $217,000. Cornerstone Investment Partners LLC acquired a new position in IMAX in the 4th quarter valued at $248,000. Savant Capital LLC bought a new position in IMAX during the 4th quarter worth $249,000. Finally, US Bancorp DE lifted its holdings in shares of IMAX by 60.3% during the fourth quarter. US Bancorp DE now owns 12,276 shares of the company’s stock worth $314,000 after buying an additional 4,620 shares in the last quarter. Institutional investors own 93.51% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on IMAX. Wedbush restated an “outperform” rating and issued a $32.00 price target on shares of IMAX in a research note on Thursday. Macquarie increased their target price on shares of IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Barrington Research lifted their price target on shares of IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Benchmark reissued a “buy” rating and set a $30.00 price target on shares of IMAX in a research report on Thursday, April 10th. Finally, StockNews.com cut IMAX from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.56.

IMAX Stock Performance

IMAX stock opened at $22.47 on Monday. The stock has a fifty day moving average of $25.03 and a 200-day moving average of $24.23. The stock has a market capitalization of $1.19 billion, a P/E ratio of 45.85, a price-to-earnings-growth ratio of 1.49 and a beta of 0.91. IMAX Co. has a 52 week low of $14.94 and a 52 week high of $27.77.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) 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 company had revenue of $92.67 million for the quarter, compared to the consensus estimate of $104.08 million. On average, research analysts forecast that IMAX Co. will post 0.91 earnings per share for the current year.

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.