IMAX Co. (NYSE:IMAX) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its holdings in IMAX Co. (NYSE:IMAX) by 33.1% in the 4th quarter, HoldingsChannel reports. The fund owned 426,947 shares of the company’s stock after selling 210,832 shares during the period. Thrivent Financial for Lutherans’ holdings in IMAX were worth $10,930,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of IMAX. Blue Trust Inc. raised its holdings in IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after acquiring an additional 561 shares during the last quarter. Quarry LP raised its holdings in IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after acquiring an additional 2,350 shares during the last quarter. Intech Investment Management LLC acquired a new position in IMAX in the 3rd quarter valued at $205,000. Wealthfront Advisers LLC acquired a new position in IMAX in the 4th quarter valued at $217,000. Finally, Cornerstone Investment Partners LLC acquired a new position in IMAX in the 4th quarter valued at $248,000. 93.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IMAX has been the subject of several research reports. Benchmark reissued a “buy” rating and set a $30.00 price objective on shares of IMAX in a research note on Thursday, February 20th. Wedbush reissued an “outperform” rating and set a $32.00 price objective on shares of IMAX in a research note on Thursday, February 20th. Macquarie boosted their price objective on shares of IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. StockNews.com raised shares of IMAX from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, IMAX currently has an average rating of “Buy” and an average target price of $30.67.

IMAX Trading Up 1.2 %

Shares of IMAX stock opened at $26.80 on Friday. The company has a fifty day moving average price of $24.83 and a 200 day moving average price of $23.65. IMAX Co. has a twelve month low of $14.94 and a twelve month high of $27.77. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 54.68, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22.

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

About IMAX

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.