13,726 Shares in IMAX Co. (NYSE:IMAX) Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. acquired a new stake in shares of IMAX Co. (NYSE:IMAX) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 13,726 shares of the company’s stock, valued at approximately $222,000.

Other hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its position in shares of IMAX by 8.9% during the 3rd quarter. Arizona State Retirement System now owns 13,212 shares of the company’s stock valued at $255,000 after buying an additional 1,085 shares in the last quarter. Mission Wealth Management LP increased its position in IMAX by 3.6% during the fourth quarter. Mission Wealth Management LP now owns 50,587 shares of the company’s stock worth $760,000 after buying an additional 1,737 shares during the period. PNC Financial Services Group Inc. acquired a new position in shares of IMAX in the fourth quarter valued at approximately $33,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in IMAX by 41.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,531 shares of the company’s stock worth $242,000 after acquiring an additional 3,682 shares during the period. Finally, Jupiter Asset Management Ltd. boosted its position in IMAX by 21.8% during the third quarter. Jupiter Asset Management Ltd. now owns 22,031 shares of the company’s stock worth $426,000 after purchasing an additional 3,945 shares in the last quarter. 93.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at IMAX

In related news, VP Robert D. Lister sold 25,000 shares of IMAX stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $16.87, for a total transaction of $421,750.00. Following the completion of the sale, the vice president now owns 138,889 shares in the company, valued at approximately $2,343,057.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Calamera Pablo sold 6,130 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $17.05, for a total value of $104,516.50. Following the completion of the sale, the executive vice president now owns 42,269 shares of the company’s stock, valued at $720,686.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert D. Lister sold 25,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $16.87, for a total transaction of $421,750.00. Following the sale, the vice president now directly owns 138,889 shares in the company, valued at approximately $2,343,057.43. The disclosure for this sale can be found here. 24.08% of the stock is currently owned by company insiders.

IMAX Stock Down 0.2 %

IMAX stock traded down $0.04 during trading on Thursday, reaching $16.54. The stock had a trading volume of 466,549 shares, compared to its average volume of 846,333. IMAX Co. has a one year low of $13.20 and a one year high of $20.70. The company’s 50 day moving average is $16.60 and its two-hundred day moving average is $15.90. The company has a market capitalization of $870.33 million, a price-to-earnings ratio of 34.54, a P/E/G ratio of 1.37 and a beta of 1.22.

IMAX (NYSE:IMAX) last issued its earnings results on Thursday, April 25th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. The company had revenue of $79.12 million for the quarter, compared to analysts’ expectations of $77.88 million. IMAX had a net margin of 7.13% and a return on equity of 9.47%. As a group, research analysts predict that IMAX Co. will post 0.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on IMAX. Rosenblatt Securities reduced their target price on IMAX from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, February 13th. StockNews.com cut IMAX from a “buy” rating to a “hold” rating in a research report on Saturday, January 27th. JPMorgan Chase & Co. lowered their price target on IMAX from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Wedbush reaffirmed an “outperform” rating and issued a $22.00 target price on shares of IMAX in a research report on Friday, April 26th. Finally, Benchmark restated a “buy” rating and issued a $22.00 target price on shares of IMAX in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a 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 $20.57.

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.