Acadian Asset Management LLC Has $61,000 Stake in IMAX Co. (NYSE:IMAX)

Acadian Asset Management LLC decreased its holdings in shares of IMAX Co. (NYSE:IMAX) by 99.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,694 shares of the company’s stock after selling 487,223 shares during the period. Acadian Asset Management LLC’s holdings in IMAX were worth $61,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in IMAX by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,454,524 shares of the company’s stock valued at $21,847,000 after purchasing an additional 10,358 shares during the period. Private Capital Management LLC boosted its holdings in shares of IMAX by 10.0% in the first quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock valued at $21,092,000 after buying an additional 118,649 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of IMAX by 33.1% in the second quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock valued at $21,687,000 after buying an additional 321,506 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of IMAX by 90.6% in the second quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock valued at $9,856,000 after buying an additional 279,410 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of IMAX by 13.2% in the first quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock valued at $9,456,000 after buying an additional 68,155 shares during the period. Institutional investors and hedge funds own 93.51% of the company’s stock.

IMAX Stock Performance

IMAX stock opened at $20.12 on Friday. The company’s 50-day simple moving average is $20.17 and its 200 day simple moving average is $17.81. IMAX Co. has a 52 week low of $13.20 and a 52 week high of $22.13. The company has a market capitalization of $1.06 billion, a PE ratio of 41.92, a price-to-earnings-growth ratio of 1.48 and a beta of 1.25.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. The firm had revenue of $88.96 million for the quarter, compared to the consensus estimate of $74.52 million. IMAX had a net margin of 5.97% and a return on equity of 7.78%. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share. On average, analysts forecast that IMAX Co. will post 0.69 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on IMAX shares. Barrington Research reiterated an “outperform” rating and issued a $25.00 price target on shares of IMAX in a report on Friday, July 26th. B. Riley boosted their price objective on shares of IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Benchmark reissued a “buy” rating and issued a $22.00 price objective on shares of IMAX in a research report on Thursday, June 20th. Macquarie boosted their price objective on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Roth Mkm boosted their price objective on shares of IMAX from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.78.

IMAX Profile

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.