Thrivent Financial for Lutherans Purchases Shares of 99,915 IMAX Corporation $IMAX

Thrivent Financial for Lutherans purchased a new stake in IMAX Corporation (NYSE:IMAX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 99,915 shares of the company’s stock, valued at approximately $3,272,000. Thrivent Financial for Lutherans owned 0.19% of IMAX at the end of the most recent quarter.

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

IMAX Stock Up 2.3%

NYSE IMAX opened at $37.23 on Monday. IMAX Corporation has a 52 week low of $20.48 and a 52 week high of $39.98. The business has a 50 day moving average price of $36.33 and a 200-day moving average price of $32.86. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 52.44, a P/E/G ratio of 1.84 and a beta of 0.38.

Wall Street Analysts Forecast Growth

A number of analysts have commented on IMAX shares. JPMorgan Chase & Co. raised shares of IMAX from a “neutral” rating to an “overweight” rating and upped their price target for the company from $32.00 to $47.00 in a research report on Monday, December 15th. B. Riley Financial reissued a “buy” rating on shares of IMAX in a research note on Monday, December 8th. Wells Fargo & Company raised their target price on IMAX from $40.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of IMAX in a report on Monday, December 29th. Finally, The Goldman Sachs Group upgraded IMAX from a “sell” rating to a “neutral” rating and increased their price target for the stock from $22.00 to $34.00 in a report on Tuesday, November 25th. Ten investment 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 currently has a consensus rating of “Moderate Buy” and an average price target of $42.70.

IMAX 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.