Emerald Advisers Inc. PA lowered its stake in shares of Imax Corp. (NYSE:IMAX) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 120,987 shares of the company’s stock after selling 1,028 shares during the period. Emerald Advisers Inc. PA’s holdings in Imax Corp. were worth $3,567,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Imax Corp. by 2.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 8,757 shares of the company’s stock valued at $258,000 after buying an additional 214 shares in the last quarter. Trillium Asset Management LLC boosted its stake in shares of Imax Corp. by 1.0% in the second quarter. Trillium Asset Management LLC now owns 65,488 shares of the company’s stock valued at $1,931,000 after buying an additional 618 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Imax Corp. during the second quarter valued at about $244,000. MSI Financial Services Inc boosted its stake in shares of Imax Corp. by 517.0% in the second quarter. MSI Financial Services Inc now owns 29,703 shares of the company’s stock valued at $876,000 after buying an additional 24,889 shares in the last quarter. Finally, Seven Eight Capital LLC boosted its stake in shares of Imax Corp. by 8.3% in the first quarter. Seven Eight Capital LLC now owns 7,800 shares of the company’s stock valued at $243,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.
Imax Corp. (NYSE:IMAX) traded down 0.72% during trading on Friday, hitting $29.03. 510,692 shares of the stock were exchanged. Imax Corp. has a 12 month low of $25.52 and a 12 month high of $40.36. The stock has a market cap of $1.95 billion, a P/E ratio of 41.89 and a beta of 1.55. The stock’s 50 day moving average price is $29.67 and its 200 day moving average price is $30.84.
Imax Corp. (NYSE:IMAX) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $91.70 million for the quarter, compared to analyst estimates of $91.30 million. Imax Corp. had a net margin of 12.47% and a return on equity of 7.66%. Imax Corp.’s quarterly revenue was down 14.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share. Analysts forecast that Imax Corp. will post $0.89 EPS for the current fiscal year.
Several brokerages have recently issued reports on IMAX. B. Riley restated a “buy” rating and set a $42.50 target price on shares of Imax Corp. in a research report on Sunday, September 25th. Wedbush reissued an “outperform” rating and issued a $41.50 price objective on shares of Imax Corp. in a research report on Wednesday, September 21st. Zacks Investment Research lowered shares of Imax Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 20th. Macquarie reduced their price objective on shares of Imax Corp. from $42.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 14th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $45.00 price objective on shares of Imax Corp. in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $40.56.
In other Imax Corp. news, CEO Richard L. Gelfond sold 7,741 shares of the business’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $30.83, for a total value of $238,655.03. Following the transaction, the chief executive officer now directly owns 102,470 shares in the company, valued at approximately $3,159,150.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.80% of the stock is currently owned by company insiders.
Imax Corp. Company Profile
IMAX Corporation is an entertainment technology company. The Company operates through seven segments: the IMAX systems, the theater system maintenance, the joint revenue sharing arrangements, film production and IMAX DMR, film distribution, film post-production and other. The IMAX systems segment designs, manufactures, sells or leases IMAX theater projection system equipment.