Emerald Mutual Fund Advisers Trust Makes New $4.89 Million Investment in IMAX Corporation $IMAX

Emerald Mutual Fund Advisers Trust acquired a new stake in IMAX Corporation (NYSE:IMAX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 149,401 shares of the company’s stock, valued at approximately $4,893,000. Emerald Mutual Fund Advisers Trust owned approximately 0.28% of IMAX as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. TD Waterhouse Canada Inc. raised its stake in IMAX by 125.0% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock valued at $25,000 after purchasing an additional 500 shares during the period. First Horizon Corp purchased a new stake in IMAX during the 3rd quarter valued at approximately $34,000. Farther Finance Advisors LLC grew its holdings in IMAX by 467.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,215 shares of the company’s stock valued at $40,000 after buying an additional 1,001 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of IMAX during the third quarter valued at approximately $57,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of IMAX by 194.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,148 shares of the company’s stock worth $116,000 after buying an additional 2,740 shares in the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

IMAX Trading Down 3.5%

IMAX opened at $35.38 on Friday. The stock has a 50-day moving average of $36.49 and a 200 day moving average of $32.21. IMAX Corporation has a 12 month low of $20.48 and a 12 month high of $39.98. The firm has a market cap of $1.90 billion, a P/E ratio of 49.83, a P/E/G ratio of 1.81 and a beta of 0.37.

IMAX (NYSE:IMAX) last issued its quarterly earnings data 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. The business had revenue of $106.65 million for the quarter, compared to the consensus estimate of $102.88 million. IMAX had a return on equity of 9.91% and a net margin of 10.47%.The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.35 earnings per share. On average, research analysts forecast that IMAX Corporation will post 0.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IMAX has been the subject of several research analyst reports. JPMorgan Chase & Co. raised shares of IMAX from a “neutral” rating to an “overweight” rating and raised their target price for the company from $32.00 to $47.00 in a research note on Monday, December 15th. Wedbush raised their price objective on IMAX from $39.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, December 8th. Roth Mkm reiterated a “buy” rating and issued a $42.00 target price on shares of IMAX in a research report on Monday, December 8th. Rosenblatt Securities increased their price target on IMAX from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of IMAX in a research note on Monday, December 29th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.70.

Insider Buying and Selling at IMAX

In other IMAX news, VP Robert D. Lister sold 50,143 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $34.67, for a total transaction of $1,738,457.81. Following the transaction, the vice president owned 161,421 shares in the company, valued at $5,596,466.07. The trade was a 23.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of the sale, 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 SEC filing for this sale provides additional information. Corporate insiders own 23.18% of the company’s stock.

IMAX Company Profile

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.