3,400 Shares in IMAX Co. (NYSE:IMAX) Acquired by nVerses Capital LLC

nVerses Capital LLC acquired a new stake in IMAX Co. (NYSE:IMAX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,400 shares of the company’s stock, valued at approximately $70,000.

Several other large investors have also modified their holdings of the company. Headlands Technologies LLC purchased a new stake in IMAX in the 2nd quarter valued at $35,000. PNC Financial Services Group Inc. acquired a new stake in shares of IMAX during the fourth quarter worth about $33,000. Summit Securities Group LLC acquired a new stake in shares of IMAX during the second quarter worth about $80,000. Laurus Investment Counsel Inc. purchased a new position in shares of IMAX during the second quarter worth about $150,000. Finally, XTX Topco Ltd acquired a new position in IMAX in the 2nd quarter valued at about $208,000. 93.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IMAX shares. Rosenblatt Securities reiterated a “buy” rating and issued a $28.00 target price on shares of IMAX in a research note on Friday, October 4th. B. Riley boosted their price objective on shares of IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Seaport Res Ptn upgraded shares of IMAX to a “strong-buy” rating in a research note on Wednesday, July 24th. Roth Mkm restated a “buy” rating and issued a $27.00 price target on shares of IMAX in a research note on Thursday, October 10th. Finally, Wedbush increased their price objective on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, IMAX presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.11.

IMAX Price Performance

IMAX stock opened at $20.79 on Tuesday. The company’s 50 day simple moving average is $20.55 and its 200-day simple moving average is $18.38. IMAX Co. has a 12 month low of $13.20 and a 12 month high of $22.13. The firm has a market capitalization of $1.09 billion, a PE ratio of 43.31, a P/E/G ratio of 1.41 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 analysts’ consensus estimates of $0.07 by $0.11. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The firm had revenue of $88.96 million for the quarter, compared to analysts’ expectations of $74.52 million. During the same quarter in the prior year, the firm earned $0.17 EPS. IMAX’s quarterly revenue was down 9.2% on a year-over-year basis. As a group, sell-side analysts anticipate that IMAX Co. will post 0.69 earnings per share for the current year.

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.