Renaissance Technologies LLC cut its holdings in IMAX Corporation (NYSE:IMAX – Free Report) by 74.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 74,100 shares of the company’s stock after selling 216,300 shares during the quarter. Renaissance Technologies LLC owned about 0.13% of IMAX worth $2,817,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of IMAX. AQR Capital Management LLC lifted its stake in shares of IMAX by 47.9% in the 1st quarter. AQR Capital Management LLC now owns 56,348 shares of the company’s stock valued at $1,485,000 after purchasing an additional 18,238 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in IMAX by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,486 shares of the company’s stock valued at $672,000 after purchasing an additional 1,091 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in IMAX by 7.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,714 shares of the company’s stock valued at $4,208,000 after purchasing an additional 11,736 shares during the last quarter. Creative Planning lifted its stake in IMAX by 84.1% in the second quarter. Creative Planning now owns 16,081 shares of the company’s stock valued at $450,000 after buying an additional 7,344 shares during the period. Finally, Norges Bank acquired a new position in IMAX in the second quarter valued at about $709,000. Institutional investors and hedge funds own 93.51% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on IMAX shares. Weiss Ratings upgraded IMAX from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Rosenblatt Securities reissued a “buy” rating and set a $47.00 price objective on shares of IMAX in a research note on Monday, July 20th. Seaport Research Partners restated a “buy” rating and set a $50.00 price objective on shares of IMAX in a report on Wednesday, June 24th. HC Wainwright reaffirmed a “buy” rating on shares of IMAX in a research note on Friday, July 24th. Finally, Barrington Research increased their target price on shares of IMAX from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $50.36.
IMAX Price Performance
NYSE:IMAX opened at $48.49 on Monday. The business’s 50-day simple moving average is $42.29 and its 200-day simple moving average is $38.99. IMAX Corporation has a fifty-two week low of $24.20 and a fifty-two week high of $51.60. The stock has a market capitalization of $2.66 billion, a PE ratio of 67.35, a price-to-earnings-growth ratio of 1.60 and a beta of 0.38.
IMAX (NYSE:IMAX – Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.13. IMAX had a return on equity of 15.47% and a net margin of 9.84%.The business had revenue of $102.84 million during the quarter, compared to analysts’ expectations of $96.09 million. During the same period in the prior year, the business earned $0.26 EPS. IMAX’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, research analysts expect that IMAX Corporation will post 1.44 earnings per share for the current year.
About IMAX
IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.
Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.
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