Principal Financial Group Inc. Purchases 28,667 Shares of IMAX Corporation $IMAX

Principal Financial Group Inc. boosted its position in IMAX Corporation (NYSE:IMAX) by 67.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,927 shares of the company’s stock after buying an additional 28,667 shares during the quarter. Principal Financial Group Inc. owned approximately 0.13% of IMAX worth $2,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in IMAX. Arizona State Retirement System boosted its stake in shares of IMAX by 2.8% in the 3rd quarter. Arizona State Retirement System now owns 13,517 shares of the company’s stock valued at $443,000 after purchasing an additional 364 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in IMAX by 125.0% in the second quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock worth $25,000 after purchasing an additional 500 shares during the last quarter. Legal & General Group Plc boosted its position in IMAX by 1.5% during the second quarter. Legal & General Group Plc now owns 50,969 shares of the company’s stock valued at $1,425,000 after buying an additional 756 shares during the period. XTX Topco Ltd grew its stake in shares of IMAX by 3.7% during the second quarter. XTX Topco Ltd now owns 23,541 shares of the company’s stock valued at $658,000 after buying an additional 842 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of IMAX by 467.8% in the third quarter. Farther Finance Advisors LLC now owns 1,215 shares of the company’s stock worth $40,000 after buying an additional 1,001 shares during the period. 93.51% of the stock is owned by hedge funds and other institutional investors.

IMAX Trading Up 2.0%

Shares of NYSE IMAX opened at $36.04 on Tuesday. IMAX Corporation has a 12 month low of $20.48 and a 12 month high of $39.98. The firm has a market capitalization of $1.94 billion, a PE ratio of 50.76, a price-to-earnings-growth ratio of 1.78 and a beta of 0.38. The firm has a fifty day simple moving average of $36.34 and a two-hundred day simple moving average of $33.26.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wedbush increased their target price on IMAX from $39.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, December 8th. JPMorgan Chase & Co. raised IMAX from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $32.00 to $47.00 in a research note on Monday, December 15th. The Goldman Sachs Group upgraded shares of IMAX from a “sell” rating to a “neutral” rating and raised their target price for the stock from $22.00 to $34.00 in a report on Tuesday, November 25th. B. Riley Financial reiterated a “buy” rating on shares of IMAX in a report on Monday, December 8th. Finally, Macquarie Infrastructure increased their price target on shares of IMAX from $39.00 to $44.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.70.

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.