22,322 Shares in IMAX Corporation $IMAX Acquired by Virtue Capital Management LLC

Virtue Capital Management LLC purchased a new position in IMAX Corporation (NYSE:IMAX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 22,322 shares of the company’s stock, valued at approximately $1,223,000.

Several other large investors have also recently made changes to their positions in IMAX. Sterling Capital Management LLC boosted its position in IMAX by 838.9% during the third quarter. Sterling Capital Management LLC now owns 1,521 shares of the company’s stock valued at $83,000 after purchasing an additional 1,359 shares in the last quarter. Global Retirement Partners LLC bought a new position in IMAX in the second quarter worth about $85,000. Nykredit A S bought a new position in IMAX in the second quarter worth about $105,000. Stronghold Wealth Management L.L.C. bought a new stake in shares of IMAX in the 3rd quarter valued at about $200,000. Finally, State of Wyoming bought a new stake in shares of IMAX in the 2nd quarter valued at about $192,000. 93.51% of the stock is owned by institutional investors.

IMAX Stock Performance

NYSE:IMAX opened at $49.86 on Tuesday. The firm’s fifty day moving average is $52.43 and its two-hundred day moving average is $42.95. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 69.25, a PEG ratio of 1.30 and a beta of 0.49. IMAX Corporation has a one year low of $31.27 and a one year high of $57.73.

Analyst Ratings Changes

A number of research firms recently commented on IMAX. Morgan Stanley began coverage on shares of IMAX in a research report on Thursday, September 24th. They set an “overweight” rating and a $63.00 target price for the company. HC Wainwright reiterated a “buy” rating on shares of IMAX in a research note on Friday, July 24th. Wells Fargo & Company boosted their price target on IMAX from $45.00 to $55.00 and gave the company an “equal weight” rating in a research note on Thursday, October 15th. Weiss Ratings raised IMAX from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, The Goldman Sachs Group raised their price objective on IMAX from $42.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $58.15.

Insider Buying and Selling

In other news, VP Robert Lister sold 22,500 shares of the company’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $51.58, for a total value of $1,160,550.00. Following the sale, the vice president owned 182,375 shares in the company, valued at $9,406,902.50. This represents a 10.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kenneth Weissman sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $54.54, for a total value of $436,320.00. Following the sale, the insider directly owned 28,205 shares in the company, valued at approximately $1,538,300.70. This trade represents a 22.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 507,257 shares of company stock worth $26,673,571 over the last ninety days. 20.55% of the stock is owned by corporate insiders.

About IMAX

IMAX Corporation (NYSE: IMAX) is a global entertainment technology company that specializes in premium large-format cinema experiences. The company designs and supplies specialized theater systems that combine large screens, high-resolution projection, advanced sound, and immersive theater design to present feature films, documentaries, live events, and other content.

IMAX supports its theater partners with projection and sound equipment, theater design and installation services, and technology and maintenance support.