Mission Wealth Management LP Has $343,000 Stock Position in IMAX Corporation $IMAX

Mission Wealth Management LP lessened its holdings in IMAX Corporation (NYSE:IMAX) by 62.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,467 shares of the company’s stock after selling 17,746 shares during the quarter. Mission Wealth Management LP’s holdings in IMAX were worth $343,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of IMAX. Orbis Allan Gray Ltd raised its stake in IMAX by 31.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 5,113,033 shares of the company’s stock worth $142,960,000 after purchasing an additional 1,230,267 shares in the last quarter. Nantahala Capital Management LLC increased its holdings in shares of IMAX by 24.9% during the second quarter. Nantahala Capital Management LLC now owns 1,133,993 shares of the company’s stock worth $31,706,000 after purchasing an additional 225,742 shares during the period. JPMorgan Chase & Co. raised its position in shares of IMAX by 10.9% in the second quarter. JPMorgan Chase & Co. now owns 1,029,602 shares of the company’s stock valued at $28,788,000 after buying an additional 101,048 shares in the last quarter. Primecap Management Co. CA raised its position in shares of IMAX by 1.3% in the second quarter. Primecap Management Co. CA now owns 751,602 shares of the company’s stock valued at $21,015,000 after buying an additional 9,902 shares in the last quarter. Finally, Pembroke Management LTD boosted its stake in shares of IMAX by 18.4% in the third quarter. Pembroke Management LTD now owns 516,622 shares of the company’s stock valued at $16,919,000 after buying an additional 80,229 shares during the period. 93.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Macquarie raised their price objective on IMAX from $39.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Wall Street Zen cut IMAX from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. Benchmark reaffirmed a “buy” rating on shares of IMAX in a research note on Monday, January 5th. Rosenblatt Securities increased their price objective on shares of IMAX from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Finally, Wedbush raised their target price on shares of IMAX from $39.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, December 8th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.70.

IMAX Trading Up 2.7%

IMAX opened at $36.42 on Friday. The company has a market cap of $1.96 billion, a P/E ratio of 51.30, a PEG ratio of 1.75 and a beta of 0.38. The company’s 50 day moving average is $36.31 and its 200-day moving average is $32.74. IMAX Corporation has a 1-year low of $20.48 and a 1-year high of $39.98.

Insider Activity at IMAX

In other news, EVP Giovanni M. Dolci sold 6,188 shares of the stock in a transaction on 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 directly owned 33,000 shares in the company, valued at approximately $1,130,250. This represents a 15.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 23.18% of the company’s stock.

About IMAX

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.