IMAX Co. (NYSE:IMAX) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in IMAX Co. (NYSE:IMAX) by 9.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,420,592 shares of the company’s stock after purchasing an additional 127,371 shares during the quarter. Victory Capital Management Inc. owned about 2.70% of IMAX worth $29,136,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Private Capital Management LLC boosted its holdings in IMAX by 10.0% during the 1st quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock valued at $21,092,000 after acquiring an additional 118,649 shares during the period. Thrivent Financial for Lutherans raised its position in IMAX by 5.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company’s stock valued at $13,740,000 after purchasing an additional 42,952 shares in the last quarter. Bank of New York Mellon Corp raised its position in IMAX by 90.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock valued at $9,856,000 after purchasing an additional 279,410 shares in the last quarter. Vanguard Group Inc. raised its position in shares of IMAX by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock worth $9,456,000 after acquiring an additional 68,155 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of IMAX by 178.7% during the 1st quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock worth $7,934,000 after acquiring an additional 314,742 shares in the last quarter. 93.51% of the stock is owned by institutional investors and hedge funds.

IMAX Stock Down 1.4 %

Shares of NYSE IMAX opened at $24.21 on Monday. The stock’s 50 day moving average price is $21.37 and its two-hundred day moving average price is $19.24. IMAX Co. has a 52-week low of $13.20 and a 52-week high of $25.28. The stock has a market capitalization of $1.28 billion, a P/E ratio of 55.02, a PEG ratio of 1.59 and a beta of 1.22.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. The business had revenue of $91.50 million for the quarter, compared to analysts’ expectations of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The business’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 EPS. On average, analysts anticipate that IMAX Co. will post 0.76 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Roth Mkm raised their target price on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Macquarie raised their target price on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Barrington Research reissued an “outperform” rating and set a $24.00 target price on shares of IMAX in a research report on Thursday, October 31st. StockNews.com upgraded IMAX from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Finally, Rosenblatt Securities restated a “buy” rating and set a $28.00 price target on shares of IMAX in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.22.

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.