American Century Companies Inc. Has $3.80 Million Stake in IMAX Corporation $IMAX

American Century Companies Inc. boosted its position in shares of IMAX Corporation (NYSE:IMAX) by 16.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,971 shares of the company’s stock after acquiring an additional 18,941 shares during the quarter. American Century Companies Inc. owned 0.25% of IMAX worth $3,802,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. US Bancorp DE increased its stake in shares of IMAX by 33.1% during the 1st quarter. US Bancorp DE now owns 16,338 shares of the company’s stock worth $431,000 after purchasing an additional 4,062 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in IMAX by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 104,510 shares of the company’s stock worth $2,754,000 after purchasing an additional 1,309 shares during the period. Nuveen LLC acquired a new position in IMAX during the first quarter worth approximately $4,438,000. Neuberger Berman Group LLC raised its stake in IMAX by 4.1% in the first quarter. Neuberger Berman Group LLC now owns 13,838 shares of the company’s stock valued at $365,000 after buying an additional 542 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of IMAX in the first quarter valued at approximately $289,000. Institutional investors own 93.51% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Giovanni M. Dolci sold 6,188 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $34.25, for a total value of $211,939.00. Following the completion of the transaction, the executive vice president owned 33,000 shares of the company’s stock, valued at $1,130,250. The trade was a 15.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Robert D. Lister sold 50,143 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $34.67, for a total transaction of $1,738,457.81. Following the sale, the vice president directly owned 161,421 shares of the company’s stock, valued at $5,596,466.07. This represents a 23.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 76,331 shares of company stock worth $2,606,397 in the last 90 days. 24.08% of the stock is owned by company insiders.

IMAX Trading Up 7.9%

Shares of IMAX opened at $38.53 on Tuesday. IMAX Corporation has a 12 month low of $20.48 and a 12 month high of $38.87. The firm’s 50 day moving average is $33.93 and its 200-day moving average is $30.19. The stock has a market capitalization of $2.07 billion, a PE ratio of 54.26, a P/E/G ratio of 2.19 and a beta of 0.41.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. IMAX had a return on equity of 9.91% and a net margin of 10.47%.The business had revenue of $106.65 million for the quarter, compared to the consensus estimate of $102.88 million. During the same quarter in the prior year, the business posted $0.35 earnings per share. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. Equities research analysts predict that IMAX Corporation will post 0.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Rosenblatt Securities lifted their target price on IMAX from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday. B. Riley reaffirmed a “buy” rating on shares of IMAX in a research report on Monday. Wells Fargo & Company increased their price objective on shares of IMAX from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. JPMorgan Chase & Co. raised their target price on shares of IMAX from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Finally, Wedbush upped their price target on shares of IMAX from $39.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.30.

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.