Trillium Asset Management LLC boosted its stake in Imax Corp. (NYSE:IMAX) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 65,488 shares of the company’s stock after buying an additional 618 shares during the period. Trillium Asset Management LLC’s holdings in Imax Corp. were worth $1,931,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Pacad Investment Ltd. bought a new position in Imax Corp. during the first quarter worth approximately $255,000. TIAA CREF Investment Management LLC boosted its position in Imax Corp. by 93.9% in the first quarter. TIAA CREF Investment Management LLC now owns 1,206,057 shares of the company’s stock worth $37,496,000 after buying an additional 583,957 shares during the period. Teachers Advisors Inc. boosted its position in Imax Corp. by 78.3% in the first quarter. Teachers Advisors Inc. now owns 750,594 shares of the company’s stock worth $23,336,000 after buying an additional 329,595 shares during the period. Prudential Financial Inc. bought a new position in Imax Corp. during the first quarter worth approximately $426,000. Finally, Franklin Resources Inc. boosted its position in Imax Corp. by 2.6% in the first quarter. Franklin Resources Inc. now owns 2,587,443 shares of the company’s stock worth $80,444,000 after buying an additional 64,662 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.
Shares of Imax Corp. (NYSE:IMAX) traded down 0.72% during trading on Friday, hitting $29.03. The company had a trading volume of 510,692 shares. The company’s 50 day moving average is $29.67 and its 200 day moving average is $30.84. The firm has a market capitalization of $1.95 billion, a P/E ratio of 41.89 and a beta of 1.55. Imax Corp. has a 1-year low of $25.52 and a 1-year high of $40.36.
Imax Corp. (NYSE:IMAX) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Imax Corp. had a return on equity of 7.66% and a net margin of 12.47%. The firm earned $91.70 million during the quarter, compared to the consensus estimate of $91.30 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The business’s revenue was down 14.5% on a year-over-year basis. Analysts anticipate that Imax Corp. will post $0.89 earnings per share for the current fiscal year.
A number of research analysts have recently commented on IMAX shares. Zacks Investment Research cut shares of Imax Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Credit Suisse Group AG set a $42.00 price objective on shares of Imax Corp. and gave the company a “buy” rating in a report on Thursday, July 21st. Wedbush reiterated an “outperform” rating and issued a $41.50 price objective (up previously from $40.00) on shares of Imax Corp. in a report on Sunday, July 24th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $45.00 price objective (up previously from $40.00) on shares of Imax Corp. in a report on Sunday, July 24th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $45.00 price objective on shares of Imax Corp. in a report on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Imax Corp. presently has an average rating of “Buy” and a consensus price target of $40.56.
In other Imax Corp. news, CEO Richard L. Gelfond sold 7,741 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $30.83, for a total value of $238,655.03. Following the completion of the sale, the chief executive officer now owns 102,470 shares in the company, valued at $3,159,150.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.80% of the stock is owned by company insiders.
Imax Corp. Company Profile
IMAX Corporation is an entertainment technology company. The Company operates through seven segments: the IMAX systems, the theater system maintenance, the joint revenue sharing arrangements, film production and IMAX DMR, film distribution, film post-production and other. The IMAX systems segment designs, manufactures, sells or leases IMAX theater projection system equipment.
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