Thrivent Financial for Lutherans Has $13.74 Million Stock Position in IMAX Co. (NYSE:IMAX)

Thrivent Financial for Lutherans lifted its holdings in shares of IMAX Co. (NYSE:IMAX) by 5.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 819,325 shares of the company’s stock after buying an additional 42,952 shares during the period. Thrivent Financial for Lutherans’ holdings in IMAX were worth $13,740,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in shares of IMAX by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,454,524 shares of the company’s stock worth $21,847,000 after buying an additional 10,358 shares in the last quarter. Private Capital Management LLC increased its holdings in IMAX by 10.0% in the 1st quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock worth $21,092,000 after purchasing an additional 118,649 shares in the last quarter. Victory Capital Management Inc. increased its holdings in IMAX by 33.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock worth $21,687,000 after purchasing an additional 321,506 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in IMAX by 90.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after purchasing an additional 279,410 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in IMAX by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock worth $9,456,000 after purchasing an additional 68,155 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

IMAX Price Performance

Shares of IMAX stock opened at $19.74 on Wednesday. IMAX Co. has a one year low of $13.20 and a one year high of $22.13. The stock’s 50-day moving average is $20.26 and its 200 day moving average is $17.85. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 41.13, a PEG ratio of 1.48 and a beta of 1.25.

IMAX (NYSE:IMAX) last announced its earnings results on Thursday, July 25th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.07 by $0.11. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The company had revenue of $88.96 million for the quarter, compared to analyst estimates of $74.52 million. During the same quarter in the prior year, the company earned $0.17 EPS. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. On average, sell-side analysts expect that IMAX Co. will post 0.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on IMAX shares. Macquarie upped their target price on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Wedbush upped their target price on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Roth Mkm upped their target price on IMAX from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Rosenblatt Securities upped their target price on IMAX from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Seaport Res Ptn upgraded IMAX to a “strong-buy” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, IMAX has an average rating of “Moderate Buy” and an average target price of $23.78.

About IMAX

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.