State Street Corp increased its stake in Imax Corporation (NYSE:IMAX) by 6.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,131,398 shares of the company’s stock after purchasing an additional 67,191 shares during the quarter. State Street Corp owned approximately 1.75% of Imax Corporation worth $24,891,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its holdings in Imax Corporation by 1,151.0% during the second quarter. BNP Paribas Arbitrage SA now owns 6,818 shares of the company’s stock valued at $150,000 after acquiring an additional 6,273 shares during the period. Seven Eight Capital LP raised its holdings in Imax Corporation by 1,115.7% during the second quarter. Seven Eight Capital LP now owns 7,294 shares of the company’s stock valued at $160,000 after acquiring an additional 6,694 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Imax Corporation by 13.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,522 shares of the company’s stock valued at $181,000 after acquiring an additional 748 shares during the period. Aperio Group LLC bought a new stake in Imax Corporation during the second quarter valued at about $205,000. Finally, M&T Bank Corp bought a new stake in Imax Corporation during the second quarter valued at about $230,000. 83.36% of the stock is currently owned by institutional investors.
In related news, CEO Greg Foster sold 9,417 shares of Imax Corporation stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $19.55, for a total value of $184,102.35. Following the completion of the transaction, the chief executive officer now owns 67,018 shares in the company, valued at $1,310,201.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 18.90% of the company’s stock.
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IMAX has been the topic of a number of recent analyst reports. B. Riley reissued a “buy” rating and set a $35.00 price target on shares of Imax Corporation in a report on Tuesday, August 1st. Piper Jaffray Companies set a $35.00 price target on Imax Corporation and gave the company a “buy” rating in a report on Friday, July 21st. Wedbush reissued a “buy” rating on shares of Imax Corporation in a report on Thursday, July 27th. Finally, Canaccord Genuity set a $33.00 price target on Imax Corporation and gave the company a “buy” rating in a report on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Imax Corporation presently has an average rating of “Buy” and a consensus target price of $31.00.
Imax Corporation (NYSE:IMAX) opened at $23.85 on Wednesday. The company has a market capitalization of $1,495.84, a PE ratio of 96.25, a P/E/G ratio of 3.40 and a beta of 1.12. Imax Corporation has a 12-month low of $17.58 and a 12-month high of $35.30.
Imax Corporation (NYSE:IMAX) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.07. The company had revenue of $98.80 million during the quarter, compared to analyst estimates of $86.17 million. Imax Corporation had a return on equity of 2.62% and a net margin of 1.78%. The firm’s revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the business posted $0.12 earnings per share. analysts expect that Imax Corporation will post 0.3 earnings per share for the current fiscal year.
About Imax Corporation
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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