Oppenheimer Asset Management Inc. decreased its holdings in Imax Corporation (NYSE:IMAX) by 57.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,762 shares of the company’s stock after selling 8,989 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Imax were worth $153,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of IMAX. TimesSquare Capital Management LLC purchased a new stake in Imax in the 2nd quarter valued at about $84,137,000. Franklin Resources Inc. grew its holdings in Imax by 33.4% in the 2nd quarter. Franklin Resources Inc. now owns 5,063,469 shares of the company’s stock valued at $111,412,000 after buying an additional 1,266,939 shares during the period. Becker Capital Management Inc. grew its holdings in Imax by 229.6% in the 3rd quarter. Becker Capital Management Inc. now owns 979,755 shares of the company’s stock valued at $22,191,000 after buying an additional 682,485 shares during the period. Light Street Capital Management LLC grew its holdings in Imax by 69.7% in the 2nd quarter. Light Street Capital Management LLC now owns 1,400,000 shares of the company’s stock valued at $30,800,000 after buying an additional 575,000 shares during the period. Finally, Janus Henderson Group PLC purchased a new stake in Imax in the 2nd quarter valued at about $12,359,000. Institutional investors own 83.91% of the company’s stock.
Several analysts have commented on IMAX shares. Wedbush restated a “buy” rating and issued a $31.00 price target on shares of Imax in a report on Friday, October 27th. Canaccord Genuity set a $32.00 price target on Imax and gave the company a “buy” rating in a report on Monday, October 23rd. B. Riley set a $35.00 price target on Imax and gave the company a “buy” rating in a report on Thursday, October 19th. Piper Jaffray Companies reiterated a “buy” rating and set a $28.00 target price on shares of Imax in a report on Sunday, September 17th. Finally, BidaskClub upgraded Imax from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Imax presently has a consensus rating of “Buy” and a consensus target price of $31.00.
Imax (NYSE:IMAX) last issued its earnings results on Thursday, October 26th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.07. Imax had a return on equity of 2.62% and a net margin of 1.78%. The business had revenue of $98.80 million during the quarter, compared to analysts’ expectations of $86.17 million. During the same quarter in the previous year, the business earned $0.12 EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. analysts expect that Imax Corporation will post 0.3 earnings per share for the current year.
In related news, CEO Greg Foster sold 3,566 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $23.97, for a total transaction of $85,477.02. Following the transaction, the chief executive officer now directly owns 74,696 shares of the company’s stock, valued at approximately $1,790,463.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert D. Lister sold 3,528 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $23.97, for a total value of $84,566.16. Following the transaction, the insider now directly owns 35,594 shares in the company, valued at $853,188.18. The disclosure for this sale can be found here. Insiders have sold a total of 17,050 shares of company stock worth $425,276 over the last three months. 18.90% of the stock is currently owned by corporate insiders.
Imax Company 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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