IMAX Corporation $IMAX Shares Bought by Pembroke Management LTD

Pembroke Management LTD boosted its stake in shares of IMAX Corporation (NYSE:IMAX) by 18.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 516,622 shares of the company’s stock after purchasing an additional 80,229 shares during the quarter. IMAX comprises approximately 1.7% of Pembroke Management LTD’s holdings, making the stock its 24th biggest position. Pembroke Management LTD’s holdings in IMAX were worth $16,919,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of IMAX. Orbis Allan Gray Ltd lifted its holdings in shares of IMAX by 31.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 5,113,033 shares of the company’s stock valued at $142,960,000 after buying an additional 1,230,267 shares during the period. Nantahala Capital Management LLC raised its position in IMAX by 24.9% during the second quarter. Nantahala Capital Management LLC now owns 1,133,993 shares of the company’s stock valued at $31,706,000 after acquiring an additional 225,742 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in IMAX by 10.9% in the second quarter. JPMorgan Chase & Co. now owns 1,029,602 shares of the company’s stock valued at $28,788,000 after acquiring an additional 101,048 shares during the period. Primecap Management Co. CA boosted its position in IMAX by 1.3% in the 2nd quarter. Primecap Management Co. CA now owns 751,602 shares of the company’s stock worth $21,015,000 after purchasing an additional 9,902 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of IMAX by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 511,769 shares of the company’s stock worth $14,307,000 after purchasing an additional 9,451 shares during the period. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Insider Activity at IMAX

In other IMAX news, EVP Giovanni M. Dolci sold 6,188 shares of IMAX stock in a transaction on Monday, November 10th. The shares were sold at an average price of $34.25, for a total transaction of $211,939.00. Following the sale, the executive vice president owned 33,000 shares of the company’s stock, valued at $1,130,250. The trade was a 15.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert D. Lister sold 50,143 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $34.67, for a total transaction of $1,738,457.81. Following the sale, the vice president directly owned 161,421 shares of the company’s stock, valued at $5,596,466.07. The trade was a 23.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 23.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on IMAX shares. Wedbush boosted their target price on shares of IMAX from $39.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, December 8th. JPMorgan Chase & Co. upgraded shares of IMAX from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $32.00 to $47.00 in a research report on Monday, December 15th. Wall Street Zen upgraded IMAX from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 21st. The Goldman Sachs Group raised IMAX from a “sell” rating to a “neutral” rating and upped their price target for the stock from $22.00 to $34.00 in a report on Tuesday, November 25th. Finally, B. Riley reiterated a “buy” rating on shares of IMAX in a research report on Monday, December 8th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.70.

IMAX Trading Up 3.1%

Shares of IMAX stock opened at $37.44 on Friday. IMAX Corporation has a twelve month low of $20.48 and a twelve month high of $39.98. The firm has a market capitalization of $2.01 billion, a PE ratio of 52.73, a P/E/G ratio of 1.80 and a beta of 0.37. The firm’s 50-day moving average price is $36.39 and its 200 day moving average price is $31.94.

IMAX (NYSE:IMAX) last announced its earnings results on Thursday, October 23rd. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. The business had revenue of $106.65 million during the quarter, compared to analysts’ expectations of $102.88 million. IMAX had a return on equity of 9.91% and a net margin of 10.47%.The business’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 earnings per share. On average, sell-side analysts predict that IMAX Corporation will post 0.91 EPS for the current fiscal year.

About IMAX

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.