Raymond James Financial Inc. Takes $9.14 Million Position in IMAX Co. (NYSE:IMAX)

Raymond James Financial Inc. purchased a new stake in shares of IMAX Co. (NYSE:IMAX) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 357,140 shares of the company’s stock, valued at approximately $9,143,000.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after buying an additional 561 shares during the last quarter. Quarry LP grew its holdings in shares of IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after buying an additional 2,350 shares during the last quarter. Cornerstone Investment Partners LLC purchased a new stake in IMAX in the fourth quarter worth approximately $248,000. Savant Capital LLC purchased a new stake in IMAX in the fourth quarter worth approximately $249,000. Finally, Intech Investment Management LLC purchased a new stake in IMAX in the third quarter worth approximately $205,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Wedbush restated an “outperform” rating and issued a $32.00 target price on shares of IMAX in a report on Thursday, February 20th. StockNews.com upgraded shares of IMAX from a “hold” rating to a “buy” rating in a report on Wednesday. Benchmark restated a “buy” rating and issued a $30.00 target price on shares of IMAX in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. raised their target price on shares of IMAX from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $30.67.

IMAX Price Performance

Shares of IMAX stock opened at $26.80 on Friday. The company’s fifty day simple moving average is $24.83 and its 200-day simple moving average is $23.63. The stock has a market capitalization of $1.42 billion, a PE ratio of 54.68, a P/E/G ratio of 1.49 and a beta of 1.22. IMAX Co. has a 1-year low of $14.94 and a 1-year high of $27.77.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.14). The firm had revenue of $92.67 million for the quarter, compared to the consensus estimate of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. As a group, research analysts anticipate that IMAX Co. will post 0.91 EPS for the current year.

IMAX Company Profile

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.