Quantbot Technologies LP Purchases Shares of 37,904 IMAX Co. (NYSE:IMAX)

Quantbot Technologies LP acquired a new position in IMAX Co. (NYSE:IMAX) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 37,904 shares of the company’s stock, valued at approximately $777,000. Quantbot Technologies LP owned about 0.07% of IMAX at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in IMAX. Vanguard Group Inc. increased its stake 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. 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 worth $21,687,000 after buying an additional 321,506 shares during the period. Mizuho Markets Americas LLC increased its position in shares of IMAX by 47.5% in the third quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock worth $7,952,000 after acquiring an additional 124,811 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of IMAX by 57.0% during the second quarter. American Century Companies Inc. now owns 120,021 shares of the company’s stock valued at $2,013,000 after acquiring an additional 43,584 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of IMAX by 90.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock valued at $9,856,000 after acquiring an additional 279,410 shares in the last quarter. 93.51% of the stock is currently owned by institutional investors.

IMAX Stock Up 1.1 %

NYSE IMAX opened at $26.32 on Monday. The stock has a market capitalization of $1.39 billion, a PE ratio of 59.82, a price-to-earnings-growth ratio of 1.68 and a beta of 1.22. IMAX Co. has a 12-month low of $13.20 and a 12-month high of $26.54. The company has a 50 day moving average price of $22.31 and a two-hundred day moving average price of $19.81.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.12. The business had revenue of $91.50 million during the quarter, compared to analyst estimates of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. IMAX’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 EPS. As a group, equities analysts anticipate that IMAX Co. will post 0.77 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $28.00 price objective on shares of IMAX in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, October 14th. StockNews.com lowered IMAX from a “buy” rating to a “hold” rating in a research report on Friday. Roth Mkm upped their target price on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Barrington Research reiterated an “outperform” rating and issued a $24.00 price objective on shares of IMAX in a research note on Thursday, October 31st. 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.22.

IMAX Company 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.