IMAX Co. (NYSE:IMAX) is Pier Capital LLC’s 2nd Largest Position

Pier Capital LLC boosted its holdings in IMAX Co. (NYSE:IMAX) by 132.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 478,760 shares of the company’s stock after buying an additional 272,949 shares during the period. IMAX makes up about 1.7% of Pier Capital LLC’s investment portfolio, making the stock its 2nd largest position. Pier Capital LLC’s holdings in IMAX were worth $12,256,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its position in shares of IMAX by 1.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock worth $747,000 after buying an additional 533 shares during the period. Blue Trust Inc. lifted its position in IMAX by 138.5% during the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after acquiring an additional 561 shares in the last quarter. Quarry LP boosted its holdings 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 acquiring an additional 2,350 shares during the period. Hedges Asset Management LLC grew its position in IMAX by 3.1% in the fourth quarter. Hedges Asset Management LLC now owns 83,600 shares of the company’s stock valued at $2,140,000 after acquiring an additional 2,500 shares in the last quarter. Finally, US Bancorp DE raised its stake in shares of IMAX by 60.3% during the fourth quarter. US Bancorp DE now owns 12,276 shares of the company’s stock valued at $314,000 after purchasing an additional 4,620 shares during the period. 93.51% of the stock is owned by institutional investors and hedge funds.

IMAX Trading Up 1.1 %

IMAX stock opened at $27.06 on Tuesday. The stock’s 50 day simple moving average is $24.91 and its 200 day simple moving average is $23.70. IMAX Co. has a 12-month low of $14.94 and a 12-month high of $27.77. The firm has a market cap of $1.43 billion, a P/E ratio of 55.22, a P/E/G ratio of 1.49 and a beta of 1.22.

IMAX (NYSE:IMAX) last issued its earnings results 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). IMAX had a return on equity of 8.60% and a net margin of 7.40%. The business had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. On average, research analysts forecast that IMAX Co. will post 0.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IMAX. Barrington Research upped their target price on shares of IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. boosted their price target on IMAX from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. StockNews.com raised IMAX from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. Wells Fargo & Company lifted 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. Finally, Rosenblatt Securities increased their target price on IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. One 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. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $30.67.

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.