The Manufacturers Life Insurance Company trimmed its position in shares of Imax Corporation (NYSE:IMAX) by 3.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,993 shares of the company’s stock after selling 1,300 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of Imax Corporation worth $924,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Cubist Systematic Strategies LLC raised its position in shares of Imax Corporation by 692.1% during the second quarter. Cubist Systematic Strategies LLC now owns 28,358 shares of the company’s stock worth $624,000 after purchasing an additional 24,778 shares during the period. State Street Corp raised its position in shares of Imax Corporation by 6.3% during the second quarter. State Street Corp now owns 1,131,398 shares of the company’s stock worth $24,891,000 after purchasing an additional 67,191 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Imax Corporation during the second quarter worth approximately $12,359,000. Light Street Capital Management LLC raised its position in shares of Imax Corporation by 69.7% during the second quarter. Light Street Capital Management LLC now owns 1,400,000 shares of the company’s stock worth $30,800,000 after purchasing an additional 575,000 shares during the period. Finally, PDT Partners LLC raised its position in shares of Imax Corporation by 93.7% during the second quarter. PDT Partners LLC now owns 252,607 shares of the company’s stock worth $5,557,000 after purchasing an additional 122,200 shares during the period. 83.36% of the stock is currently owned by institutional investors.
In other Imax Corporation news, CEO Greg Foster sold 9,417 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $19.55, for a total value of $184,102.35. Following the completion of the transaction, the chief executive officer now owns 67,018 shares in the company, valued at approximately $1,310,201.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.90% of the stock is owned by corporate insiders.
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IMAX has been the topic of a number of research reports. Wedbush reaffirmed an “outperform” rating and set a $35.00 target price on shares of Imax Corporation in a research report on Thursday, July 20th. Piper Jaffray Companies set a $35.00 price target on Imax Corporation and gave the stock a “buy” rating in a report on Friday, July 21st. BidaskClub upgraded Imax Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. B. Riley reiterated a “buy” rating and set a $35.00 price target on shares of Imax Corporation in a report on Thursday, July 27th. Finally, Zacks Investment Research upgraded Imax Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Imax Corporation currently has an average rating of “Buy” and a consensus price target of $31.00.
Imax Corporation (NYSE:IMAX) opened at $23.85 on Wednesday. The stock has a market capitalization of $1,495.84, a price-to-earnings ratio of 96.25, a price-to-earnings-growth ratio of 3.40 and a beta of 1.12. Imax Corporation has a 12 month low of $17.58 and a 12 month high of $35.30.
Imax Corporation (NYSE:IMAX) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.07. The firm had revenue of $98.80 million during the quarter, compared to the consensus estimate of $86.17 million. Imax Corporation had a return on equity of 2.62% and a net margin of 1.78%. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. equities analysts forecast that Imax Corporation will post 0.3 earnings per share for the current year.
Imax Corporation Profile
IMAX Corporation is an entertainment technology company. The Company operates through seven segments: IMAX systems; theater system maintenance; joint revenue sharing arrangements; film production and IMAX DMR; film distribution; film post-production, and other. The IMAX systems segment designs, manufactures, sells or leases IMAX theater projection system equipment.
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