Private Capital Management LLC Trims Stake in IMAX Co. (NYSE:IMAX)

Private Capital Management LLC reduced its holdings in IMAX Co. (NYSE:IMAX) by 81.9% during the third quarter, Holdings Channel.com reports. The fund owned 234,105 shares of the company’s stock after selling 1,060,269 shares during the quarter. Private Capital Management LLC’s holdings in IMAX were worth $4,801,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IMAX. Blue Trust Inc. grew its holdings in shares of IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after purchasing an additional 561 shares in the last quarter. Huntington National Bank bought a new stake in IMAX during the third quarter valued at approximately $34,000. Quarry LP grew its stake in IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after buying an additional 2,350 shares in the last quarter. US Bancorp DE increased its holdings in shares of IMAX by 23.4% in the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company’s stock worth $157,000 after buying an additional 1,452 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of IMAX during the 3rd quarter valued at $205,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Insider Activity

In other news, CFO Natasha Fernandes sold 2,957 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was 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. The trade was a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kenneth Ian Weissman sold 6,309 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was 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 $641,295.89. The trade was a 20.06 % 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 valued at $1,662,110. Insiders own 24.08% of the company’s stock.

IMAX Price Performance

Shares of IMAX stock opened at $25.32 on Friday. The stock has a market capitalization of $1.34 billion, a P/E ratio of 51.66, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. IMAX Co. has a one year low of $14.94 and a one year high of $27.77. The business’s 50 day simple moving average is $24.72 and its two-hundred day simple moving average is $23.16.

IMAX (NYSE:IMAX) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The firm had revenue of $92.67 million for the quarter, compared to the consensus estimate of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. Sell-side analysts expect that IMAX Co. will post 0.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IMAX has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on shares of IMAX from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Wells Fargo & Company upped their price objective on IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. StockNews.com cut IMAX from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Wedbush reaffirmed an “outperform” rating and issued a $32.00 target price on shares of IMAX in a research note on Thursday, February 20th. Finally, Rosenblatt Securities increased their price target on shares of IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, IMAX presently has an average rating of “Moderate Buy” and an average target price of $30.67.

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.