Proficio Capital Partners LLC Makes New Investment in IMAX Co. (NYSE:IMAX)

Proficio Capital Partners LLC acquired a new stake in IMAX Co. (NYSE:IMAX) during the 4th quarter, Holdings Channel.com reports. The fund acquired 19,610 shares of the company’s stock, valued at approximately $502,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. FMR LLC raised its position in IMAX by 108.4% during the third quarter. FMR LLC now owns 3,949,643 shares of the company’s stock valued at $81,007,000 after acquiring an additional 2,054,031 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of IMAX during the 3rd quarter worth approximately $6,322,000. Castleark Management LLC purchased a new position in shares of IMAX during the 3rd quarter valued at approximately $5,199,000. Pier Capital LLC acquired a new position in shares of IMAX in the 3rd quarter valued at $4,221,000. Finally, Principal Financial Group Inc. boosted its holdings in IMAX by 69.3% during the fourth quarter. Principal Financial Group Inc. now owns 103,946 shares of the company’s stock worth $2,661,000 after buying an additional 42,562 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

IMAX Stock Performance

Shares of IMAX opened at $27.06 on Tuesday. The stock has a 50 day moving average price of $24.91 and a 200 day moving average price of $23.70. IMAX Co. has a one year low of $14.94 and a one year high of $27.77. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 55.22, a PEG ratio of 1.49 and a beta of 1.22.

IMAX (NYSE:IMAX) last released its earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The business had revenue of $92.67 million for the quarter, compared to analysts’ expectations of $104.08 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. On average, analysts predict that IMAX Co. will post 0.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IMAX. Barrington Research upped their price objective on shares of IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. StockNews.com raised IMAX from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. Benchmark reissued a “buy” rating and issued a $30.00 price objective on shares of IMAX in a report on Thursday, February 20th. Rosenblatt Securities upped their target price on IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, IMAX has an average rating of “Buy” and an average target price of $30.67.

IMAX 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.