Wedbush Securities Inc. Purchases 15,712 Shares of IMAX Co. (NYSE:IMAX)

Wedbush Securities Inc. increased its position in IMAX Co. (NYSE:IMAX) by 112.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,651 shares of the company’s stock after purchasing an additional 15,712 shares during the quarter. Wedbush Securities Inc. owned approximately 0.06% of IMAX worth $497,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in IMAX by 13.2% during 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. GSA Capital Partners LLP purchased a new position in IMAX during the 1st quarter valued at about $1,070,000. Acadian Asset Management LLC boosted its stake in IMAX by 178.7% during the first quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock worth $7,934,000 after acquiring an additional 314,742 shares in the last quarter. Kodai Capital Management LP bought a new stake in IMAX during the fourth quarter worth about $5,287,000. Finally, Principal Financial Group Inc. purchased a new stake in IMAX in the first quarter worth about $871,000. 93.51% of the stock is currently owned by institutional investors.

IMAX Stock Up 0.0 %

Shares of IMAX stock opened at $20.60 on Friday. The firm has a market capitalization of $1.08 billion, a PE ratio of 42.92, a P/E/G ratio of 1.51 and a beta of 1.25. The company has a 50 day moving average price of $19.75 and a 200-day moving average price of $17.64. IMAX Co. has a 52 week low of $13.20 and a 52 week high of $22.13.

IMAX (NYSE:IMAX) last announced its earnings results on Thursday, July 25th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. The business had revenue of $88.96 million during the quarter, compared to analyst estimates of $74.52 million. IMAX had a net margin of 5.97% and a return on equity of 7.78%. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 EPS. Analysts anticipate that IMAX Co. will post 0.69 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Benchmark reiterated a “buy” rating and set a $22.00 target price on shares of IMAX in a report on Thursday, June 20th. Roth Mkm boosted 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. Macquarie raised their price target on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Wedbush upped their price target on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Finally, Barrington Research restated an “outperform” rating and set a $25.00 price objective on shares of IMAX in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, IMAX currently has an average rating of “Moderate Buy” and an average price target of $23.78.

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.