BNP Paribas Financial Markets Lowers Position in IMAX Co. (NYSE:IMAX)

BNP Paribas Financial Markets reduced its position in IMAX Co. (NYSE:IMAX) by 6.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,161 shares of the company’s stock after selling 1,824 shares during the period. BNP Paribas Financial Markets’ holdings in IMAX were worth $537,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Huntington National Bank purchased a new position in shares of IMAX in the third quarter valued at $34,000. Headlands Technologies LLC bought a new position in shares of IMAX during the second quarter valued at approximately $35,000. nVerses Capital LLC bought a new stake in IMAX in the third quarter valued at $70,000. Summit Securities Group LLC bought a new position in IMAX in the 2nd quarter worth about $80,000. Finally, Laurus Investment Counsel Inc. bought a new position in shares of IMAX in the second quarter worth $150,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

IMAX Price Performance

Shares of IMAX stock opened at $26.03 on Friday. The company’s fifty day moving average price is $23.52 and its two-hundred day moving average price is $20.42. The firm has a market capitalization of $1.37 billion, a PE ratio of 59.16, a price-to-earnings-growth ratio of 1.69 and a beta of 1.23. IMAX Co. has a 52-week low of $13.20 and a 52-week high of $26.84.

IMAX (NYSE:IMAX) last issued its earnings results on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The company had revenue of $91.50 million for the quarter, compared to the consensus estimate of $93.71 million. During the same quarter in the previous year, the company earned $0.27 EPS. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. Analysts predict that IMAX Co. will post 0.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IMAX has been the topic of a number of recent analyst reports. Benchmark boosted their price target on shares of IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday. Barrington Research reiterated an “outperform” rating and set a $24.00 price target on shares of IMAX in a report on Thursday, October 31st. Wedbush reaffirmed an “outperform” rating on shares of IMAX in a research note on Wednesday, November 27th. Roth Mkm raised their price target on shares of IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $28.00 price target on shares of IMAX in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, IMAX presently has a consensus rating of “Moderate Buy” and an average target price of $25.11.

Insider Activity

In other IMAX news, EVP Robert D. Lister sold 55,910 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the transaction, the executive vice president now owns 138,889 shares in the company, valued at approximately $3,541,669.50. This trade represents a 28.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Natasha Fernandes sold 2,957 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.52, for a total transaction of $75,462.64. Following the completion of the sale, the chief financial officer now directly owns 14,883 shares of the company’s stock, valued at $379,814.16. The trade was a 16.58 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,176 shares of company stock worth $1,662,110. 24.08% of the stock is owned by corporate insiders.

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.