Legal & General Group Plc Buys 5,452 Shares of Imax Corporation (IMAX)

Legal & General Group Plc boosted its stake in shares of Imax Corporation (NYSE:IMAX) by 25.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,561 shares of the company’s stock after acquiring an additional 5,452 shares during the quarter. Legal & General Group Plc’s holdings in Imax were worth $601,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of IMAX. Schwab Charles Investment Management Inc. lifted its position in Imax by 5.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 99,100 shares of the company’s stock worth $2,181,000 after acquiring an additional 5,500 shares during the period. Bank of New York Mellon Corp lifted its position in Imax by 20.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,134,761 shares of the company’s stock worth $24,965,000 after acquiring an additional 191,140 shares during the period. BNP Paribas Arbitrage SA lifted its position in Imax by 1,151.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,818 shares of the company’s stock worth $150,000 after acquiring an additional 6,273 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Imax by 13.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,522 shares of the company’s stock worth $181,000 after acquiring an additional 748 shares during the period. Finally, Eagle Asset Management Inc. lifted its position in Imax by 26.2% during the 2nd quarter. Eagle Asset Management Inc. now owns 197,641 shares of the company’s stock worth $4,348,000 after acquiring an additional 40,991 shares during the period. 83.91% of the stock is owned by institutional investors.

Several research firms have recently commented on IMAX. Zacks Investment Research raised Imax from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Wedbush reissued a “buy” rating and issued a $31.00 price target on shares of Imax in a report on Friday, October 27th. B. Riley reissued a “buy” rating and issued a $35.00 price target on shares of Imax in a report on Monday, November 20th. Canaccord Genuity set a $32.00 price target on Imax and gave the company a “buy” rating in a report on Monday, October 23rd. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $28.00 price target on shares of Imax in a report on Sunday, September 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $30.10.

In related news, insider Mark Welton sold 8,985 shares of Imax stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $25.81, for a total transaction of $231,902.85. Following the completion of the transaction, the insider now directly owns 16,331 shares of the company’s stock, valued at $421,503.11. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Greg Foster sold 3,566 shares of Imax stock in a transaction on Monday, December 11th. The stock was sold at an average price of $23.97, for a total value of $85,477.02. Following the transaction, the chief executive officer now directly owns 74,696 shares of the company’s stock, valued at $1,790,463.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,050 shares of company stock valued at $425,276. 18.90% of the stock is currently owned by insiders.

Shares of Imax Corporation (NYSE IMAX) opened at $22.55 on Friday. The company has a market capitalization of $1,492.60, a P/E ratio of 250.58, a PEG ratio of 1.16 and a beta of 1.13. Imax Corporation has a 1-year low of $17.58 and a 1-year high of $34.60.

Imax (NYSE:IMAX) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.07. The firm had revenue of $98.80 million during the quarter, compared to analysts’ expectations of $86.17 million. Imax had a return on equity of 2.62% and a net margin of 1.78%. Imax’s revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 earnings per share. research analysts anticipate that Imax Corporation will post 0.3 EPS for the current year.

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Imax Profile

IMAX Corporation is an entertainment technology company. The Company operates through seven segments: IMAX systems; theater system maintenance; 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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Institutional Ownership by Quarter for Imax (NYSE:IMAX)

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