Trading Report: Today, Victory Capital Management Inc. Takes Position in Imax Corp. (IMAX)

Today, Victory Capital Management Inc. Takes Position in Imax Corp. (IMAX)

Victory Capital Management Inc. bought a new position in Imax Corp. (NYSE:IMAX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,255,538 shares of the company’s stock, valued at approximately $65,343,000. Victory Capital Management Inc. owned 3.38% of Imax Corp. at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. BNP Paribas Arbitrage SA raised its stake in shares of Imax Corp. by 75.0% in the third quarter. BNP Paribas Arbitrage SA now owns 4,085 shares of the company’s stock valued at $118,000 after buying an additional 1,751 shares during the last quarter. Advisor Group Inc. purchased a new stake in shares of Imax Corp. during the second quarter valued at approximately $121,000. BlackRock Inc. raised its stake in shares of Imax Corp. by 22.7% in the second quarter. BlackRock Inc. now owns 4,879 shares of the company’s stock valued at $144,000 after buying an additional 902 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Imax Corp. during the second quarter valued at approximately $218,000. Finally, Seven Eight Capital LLC raised 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 during the last quarter. 87.53% of the stock is owned by institutional investors and hedge funds.

Shares of Imax Corp. (NYSE:IMAX) traded down 6.96% during midday trading on Monday, hitting $32.10. The stock had a trading volume of 525,526 shares. Imax Corp. has a 52-week low of $25.52 and a 52-week high of $40.36. The firm has a 50 day moving average price of $31.33 and a 200-day moving average price of $30.82. The stock has a market cap of $2.14 billion, a PE ratio of 52.11 and a beta of 1.20.

Imax Corp. (NYSE:IMAX) last issued its quarterly earnings data on Thursday, October 20th. The company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.04. Imax Corp. had a return on equity of 5.99% and a net margin of 10.86%. The company earned $86.60 million during the quarter, compared to analyst estimates of $77.09 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. Imax Corp.’s revenue was up 1.8% compared to the same quarter last year. Equities analysts predict that Imax Corp. will post $0.82 EPS for the current fiscal year.

Several analysts recently commented on IMAX shares. Zacks Investment Research lowered Imax Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, September 20th. Macquarie cut their price objective on Imax Corp. from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, September 14th. B. Riley reaffirmed a “buy” rating and issued a $42.50 price objective on shares of Imax Corp. in a report on Wednesday, November 16th. MKM Partners reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Imax Corp. in a report on Tuesday, October 18th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $45.00 target price on shares of Imax Corp. in a research report on Wednesday, August 3rd. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $40.83.

In related news, CEO Richard L. Gelfond sold 7,741 shares of Imax Corp. stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $30.83, for a total value of $238,655.03. Following the completion of the sale, the chief executive officer now owns 102,470 shares of the company’s stock, valued at $3,159,150.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew Cripps sold 100,000 shares of Imax Corp. stock in a transaction on Friday, October 21st. The stock was sold at an average price of $31.47, for a total value of $3,147,000.00. Following the completion of the sale, the insider now directly owns 1,389 shares of the company’s stock, valued at approximately $43,711.83. The disclosure for this sale can be found here. 5.80% of the stock is owned by corporate insiders.

About Imax Corp.

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.

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