IMAX Corporation $IMAX Position Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in IMAX Corporation (NYSE:IMAX) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 267,331 shares of the company’s stock after acquiring an additional 2,343 shares during the period. Bank of New York Mellon Corp owned about 0.50% of IMAX worth $7,475,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Orbis Allan Gray Ltd boosted its stake in IMAX by 12.3% in the 1st quarter. Orbis Allan Gray Ltd now owns 3,882,766 shares of the company’s stock worth $102,311,000 after purchasing an additional 425,081 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of IMAX by 8.3% in the first quarter. Ameriprise Financial Inc. now owns 1,974,068 shares of the company’s stock valued at $52,019,000 after purchasing an additional 150,552 shares in the last quarter. Mizuho Markets Americas LLC boosted its position in shares of IMAX by 19.3% in the first quarter. Mizuho Markets Americas LLC now owns 710,489 shares of the company’s stock worth $18,721,000 after buying an additional 114,800 shares during the period. Jane Street Group LLC boosted its position in shares of IMAX by 2,496.9% in the first quarter. Jane Street Group LLC now owns 573,919 shares of the company’s stock worth $15,123,000 after buying an additional 551,819 shares during the period. Finally, Jupiter Asset Management Ltd. grew its holdings in shares of IMAX by 805.9% during the first quarter. Jupiter Asset Management Ltd. now owns 469,504 shares of the company’s stock valued at $12,371,000 after buying an additional 417,677 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on IMAX. B. Riley reissued a “buy” rating on shares of IMAX in a research note on Friday, October 10th. The Goldman Sachs Group reissued a “sell” rating on shares of IMAX in a research report on Friday, July 25th. Wedbush raised their price target on shares of IMAX from $35.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. JPMorgan Chase & Co. upped their price objective on shares of IMAX from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of IMAX in a research report on Wednesday. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, IMAX presently has a consensus rating of “Moderate Buy” and an average target price of $36.67.

IMAX Stock Performance

NYSE:IMAX opened at $35.40 on Friday. The company has a market capitalization of $1.90 billion, a P/E ratio of 49.86, a P/E/G ratio of 2.05 and a beta of 0.60. The stock’s 50 day moving average price is $33.04 and its 200 day moving average price is $29.31. IMAX Corporation has a 52 week low of $20.48 and a 52 week high of $37.21.

IMAX (NYSE:IMAX) last posted its earnings results on Thursday, October 23rd. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. IMAX had a net margin of 10.47% and a return on equity of 9.91%. The firm had revenue of $106.65 million during the quarter, compared to analysts’ expectations of $102.88 million. During the same period in the previous year, the company earned $0.35 earnings per share. The company’s revenue was up 16.6% compared to the same quarter last year. As a group, sell-side analysts forecast that IMAX Corporation will post 0.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other IMAX news, EVP Giovanni M. Dolci sold 6,188 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $34.25, for a total transaction of $211,939.00. Following the transaction, the executive vice president directly owned 33,000 shares of the company’s stock, valued at $1,130,250. This represents a 15.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert D. Lister sold 50,143 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $34.67, for a total value of $1,738,457.81. Following the transaction, the vice president owned 161,421 shares in the company, valued at approximately $5,596,466.07. This trade represents a 23.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 76,331 shares of company stock valued at $2,606,397 over the last quarter. 24.08% of the stock is currently owned by corporate insiders.

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.