Pembroke Management LTD lowered its stake in shares of Imax Corp (NYSE:IMAX) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 889,400 shares of the company’s stock after selling 17,300 shares during the quarter. Imax accounts for 2.1% of Pembroke Management LTD’s investment portfolio, making the stock its 13th largest holding. Pembroke Management LTD’s holdings in Imax were worth $20,589,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new position in Imax in the 2nd quarter valued at $539,000. Schwab Charles Investment Management Inc. grew its stake in Imax by 5.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 99,100 shares of the company’s stock valued at $2,181,000 after purchasing an additional 5,500 shares during the period. Cubist Systematic Strategies LLC grew its stake in Imax by 98.4% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 56,251 shares of the company’s stock valued at $1,274,000 after purchasing an additional 27,893 shares during the period. Janus Henderson Group PLC bought a new position in Imax in the 2nd quarter valued at $12,359,000. Finally, Cortina Asset Management LLC grew its stake in Imax by 13.0% in the 3rd quarter. Cortina Asset Management LLC now owns 396,434 shares of the company’s stock valued at $8,979,000 after purchasing an additional 45,706 shares during the period. Institutional investors and hedge funds own 83.04% of the company’s stock.
IMAX has been the subject of a number of recent analyst reports. B. Riley restated a “buy” rating and issued a $35.00 price objective on shares of Imax in a research note on Monday, December 11th. Canaccord Genuity set a $32.00 price objective on Imax and gave the company a “buy” rating in a research note on Monday, October 23rd. Wedbush set a $29.00 price objective on Imax and gave the company a “buy” rating in a research note on Thursday, October 19th. Zacks Investment Research downgraded Imax from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Finally, Piper Jaffray Companies downgraded Imax from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $28.00 to $21.00 in a research note on Wednesday, January 10th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.30.
In other news, insider Robert D. Lister sold 3,528 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $23.97, for a total transaction of $84,566.16. Following the transaction, the insider now owns 35,594 shares of the company’s stock, valued at approximately $853,188.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Welton sold 8,985 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $25.81, for a total value of $231,902.85. Following the transaction, the insider now directly owns 16,331 shares in the company, valued at approximately $421,503.11. The disclosure for this sale can be found here. Insiders have sold a total of 17,050 shares of company stock worth $425,276 in the last ninety days. Insiders own 18.90% of the company’s stock.
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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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