Quantbot Technologies LP Sells 21,937 Shares of IMAX Co. (NYSE:IMAX)

Quantbot Technologies LP lessened its holdings in IMAX Co. (NYSE:IMAX) by 57.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,967 shares of the company’s stock after selling 21,937 shares during the period. Quantbot Technologies LP’s holdings in IMAX were worth $409,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in IMAX by 69.3% in the fourth quarter. Principal Financial Group Inc. now owns 103,946 shares of the company’s stock worth $2,661,000 after acquiring an additional 42,562 shares during the period. Savant Capital LLC purchased a new stake in shares of IMAX in the 4th quarter worth $249,000. Raymond James Financial Inc. bought a new position in IMAX in the 4th quarter worth $9,143,000. Intech Investment Management LLC lifted its position in IMAX by 116.1% during the fourth quarter. Intech Investment Management LLC now owns 21,589 shares of the company’s stock valued at $553,000 after purchasing an additional 11,597 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in IMAX during the third quarter valued at about $6,322,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

IMAX Stock Down 3.5 %

Shares of IMAX stock opened at $26.08 on Friday. The company’s fifty day simple moving average is $25.23 and its two-hundred day simple moving average is $23.82. IMAX Co. has a 52 week low of $14.94 and a 52 week high of $27.77. The stock has a market cap of $1.38 billion, a P/E ratio of 53.23, a PEG ratio of 1.49 and a beta of 1.22.

IMAX (NYSE:IMAX) last posted its earnings results on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The firm had revenue of $92.67 million during 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 anticipate that IMAX Co. will post 0.91 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on IMAX shares. Rosenblatt Securities lifted their price objective on IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Macquarie lifted their price target on shares of IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Wells Fargo & Company increased their price objective on shares of IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price 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. Finally, StockNews.com lowered IMAX from a “buy” rating to a “hold” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.67.

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.