IMAX (NYSE:IMAX) Trading Up 12.2%

IMAX Co. (NYSE:IMAX)’s share price rose 12.2% on Thursday . The company traded as high as $20.30 and last traded at $20.00. Approximately 273,443 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 783,478 shares. The stock had previously closed at $17.83.

Wall Street Analyst Weigh In

IMAX has been the subject of several analyst reports. Wedbush reaffirmed an “outperform” rating and set a $22.00 price objective on shares of IMAX in a research report on Thursday, July 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $25.00 price target on shares of IMAX in a report on Monday, June 17th. Barrington Research reissued an “outperform” rating and set a $24.00 price objective on shares of IMAX in a report on Monday, April 22nd. Benchmark restated a “buy” rating and issued a $22.00 target price on shares of IMAX in a report on Thursday, June 20th. Finally, Seaport Res Ptn raised shares of IMAX to a “strong-buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, IMAX has an average rating of “Moderate Buy” and a consensus price target of $22.00.

IMAX Price Performance

The firm has a market cap of $997.15 million, a price-to-earnings ratio of 41.67, a P/E/G ratio of 1.52 and a beta of 1.26. The firm’s 50 day moving average price is $16.64 and its two-hundred day moving average price is $16.07.

IMAX (NYSE:IMAX) last announced its earnings results on Thursday, April 25th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.05. IMAX had a return on equity of 9.47% and a net margin of 7.13%. The company had revenue of $79.12 million for the quarter, compared to the consensus estimate of $77.88 million. On average, analysts anticipate that IMAX Co. will post 0.58 earnings per share for the current year.

Insider Activity at IMAX

In other IMAX news, EVP Calamera Pablo sold 6,130 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $17.05, for a total transaction of $104,516.50. Following the completion of the transaction, the executive vice president now owns 42,269 shares in the company, valued at approximately $720,686.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 24.08% of the stock is currently owned by insiders.

Institutional Trading of IMAX

Hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. purchased a new position in IMAX in the fourth quarter worth $33,000. Tower Research Capital LLC TRC lifted its stake in shares of IMAX by 545.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock valued at $75,000 after purchasing an additional 4,218 shares during the period. Partnership Wealth Management LLC acquired a new position in IMAX during the fourth quarter worth about $111,000. Laurus Investment Counsel Inc. acquired a new position in IMAX during the second quarter worth about $150,000. Finally, SG Americas Securities LLC lifted its position in shares of IMAX by 65.5% during the 4th quarter. SG Americas Securities LLC now owns 11,868 shares of the company’s stock valued at $178,000 after acquiring an additional 4,699 shares during the period. 93.51% of the stock is owned by institutional investors and hedge funds.

About IMAX

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.