American Century Companies Inc. Buys 43,584 Shares of IMAX Co. (NYSE:IMAX)

American Century Companies Inc. grew its stake in shares of IMAX Co. (NYSE:IMAX) by 57.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 120,021 shares of the company’s stock after acquiring an additional 43,584 shares during the period. American Century Companies Inc.’s holdings in IMAX were worth $2,013,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. bought a new position in shares of IMAX during the fourth quarter valued at $33,000. Headlands Technologies LLC bought a new position in IMAX during the 2nd quarter valued at about $35,000. Summit Securities Group LLC bought a new position in IMAX during the 2nd quarter valued at about $80,000. Laurus Investment Counsel Inc. purchased a new stake in shares of IMAX during the 2nd quarter valued at about $150,000. Finally, Partnership Wealth Management LLC grew its stake in shares of IMAX by 63.1% in the first quarter. Partnership Wealth Management LLC now owns 12,932 shares of the company’s stock worth $209,000 after acquiring an additional 5,005 shares during the period. Hedge funds and other institutional investors own 93.51% of the company’s stock.

IMAX Stock Up 0.5 %

Shares of IMAX opened at $20.35 on Friday. IMAX Co. has a 52 week low of $13.20 and a 52 week high of $22.13. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 42.40, a PEG ratio of 1.38 and a beta of 1.25. The business has a 50-day simple moving average of $20.41 and a two-hundred day simple moving average of $17.92.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IMAX shares. Benchmark restated a “buy” rating and set a $22.00 price objective on shares of IMAX in a research report on Thursday, June 20th. B. Riley increased their price target on IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a report on Monday, July 8th. Macquarie lifted their price objective on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Seaport Res Ptn upgraded IMAX to a “strong-buy” rating in a research report on Wednesday, July 24th. Finally, Wedbush raised their target price on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.67.

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.