Geode Capital Management LLC Buys 5,826 Shares of IMAX Co. (NYSE:IMAX)

Geode Capital Management LLC boosted its stake in IMAX Co. (NYSE:IMAX) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 498,135 shares of the company’s stock after purchasing an additional 5,826 shares during the period. Geode Capital Management LLC owned about 0.95% of IMAX worth $12,752,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in IMAX. Blue Trust Inc. raised its holdings in IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after buying an additional 561 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in shares of IMAX in the fourth quarter worth $217,000. Cornerstone Investment Partners LLC acquired a new stake in IMAX in the fourth 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 IMAX by 60.3% during the 4th quarter. US Bancorp DE now owns 12,276 shares of the company’s stock worth $314,000 after buying an additional 4,620 shares during the period. Institutional investors and hedge funds own 93.51% of the company’s stock.

IMAX Stock Down 0.4 %

Shares of IMAX opened at $22.36 on Tuesday. The business’s fifty day moving average is $24.96 and its 200 day moving average is $24.25. IMAX Co. has a 12-month low of $14.94 and a 12-month high of $27.77. The stock has a market cap of $1.19 billion, a P/E ratio of 45.63, a P/E/G ratio of 1.49 and a beta of 0.91.

IMAX (NYSE:IMAX) last posted its earnings results on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.14). IMAX had a return on equity of 8.60% and a net margin of 7.40%. The business had revenue of $92.67 million for the quarter, compared to the consensus estimate of $104.08 million. On average, analysts expect that IMAX Co. will post 0.91 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IMAX. Barrington Research raised their price objective on IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Rosenblatt Securities restated a “buy” rating and issued a $35.00 price target on shares of IMAX in a research report on Thursday, April 10th. Benchmark reiterated a “buy” rating and set a $30.00 price objective on shares of IMAX in a research report on Thursday, April 10th. Macquarie upped their price target on shares of IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, StockNews.com lowered IMAX from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, IMAX currently has an average rating of “Moderate Buy” and an average target price of $30.56.

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.