Public Employees Retirement System of Ohio Acquires New Position in IMAX Co. (NYSE:IMAX)

Public Employees Retirement System of Ohio acquired a new stake in IMAX Co. (NYSE:IMAX) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 75,822 shares of the company’s stock, valued at approximately $1,555,000. Public Employees Retirement System of Ohio owned about 0.14% of IMAX at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Pier Capital LLC acquired a new stake in IMAX in the third quarter valued at approximately $4,221,000. Castleark Management LLC acquired a new stake in IMAX in the third quarter valued at approximately $5,199,000. Systematic Financial Management LP acquired a new stake in IMAX in the third quarter valued at approximately $838,000. Quarry LP lifted its holdings in shares of IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after purchasing an additional 2,350 shares during the period. Finally, Atom Investors LP acquired a new position in shares of IMAX during the third quarter worth $265,000. 93.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IMAX. Wedbush reiterated an “outperform” rating on shares of IMAX in a report on Wednesday, November 27th. JPMorgan Chase & Co. lifted their price target on shares of IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Rosenblatt Securities reiterated a “buy” rating and set a $28.00 price target on shares of IMAX in a report on Thursday, October 31st. Roth Mkm lifted their price target on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Barrington Research restated an “outperform” rating and issued a $24.00 target price on shares of IMAX in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, IMAX presently has a consensus rating of “Moderate Buy” and an average price target of $25.11.

IMAX Price Performance

Shares of NYSE:IMAX opened at $24.65 on Thursday. IMAX Co. has a one year low of $13.20 and a one year high of $26.84. The company’s fifty day moving average price is $23.85 and its 200-day moving average price is $20.63. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 56.02, a PEG ratio of 1.69 and a beta of 1.23.

IMAX (NYSE:IMAX) last released 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 analyst estimates of $93.71 million. During the same quarter last year, the firm earned $0.27 EPS. The firm’s quarterly revenue was down 11.9% compared to the same quarter last year. As a group, equities research analysts expect that IMAX Co. will post 0.77 EPS for the current year.

Insider Buying and Selling at IMAX

In other news, insider Kenneth Ian Weissman sold 6,309 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the completion of the sale, the insider now directly owns 25,139 shares of the company’s stock, valued at approximately $641,295.89. This trade represents a 20.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Natasha Fernandes sold 2,957 shares of IMAX stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.52, for a total transaction of $75,462.64. Following the transaction, the chief financial officer now directly owns 14,883 shares of the company’s stock, valued at approximately $379,814.16. This trade represents a 16.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,176 shares of company stock valued at $1,662,110 in the last quarter. Company insiders own 24.08% of the company’s stock.

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.