IMAX Co. (NYSE:IMAX) Holdings Decreased by Primecap Management Co. CA

Primecap Management Co. CA trimmed its position in IMAX Co. (NYSE:IMAX) by 9.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 842,000 shares of the company’s stock after selling 83,700 shares during the quarter. Primecap Management Co. CA’s holdings in IMAX were worth $21,555,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in IMAX. Wealthfront Advisers LLC acquired a new position in IMAX during the 4th quarter valued at approximately $217,000. Raymond James Financial Inc. acquired a new position in IMAX during the 4th quarter valued at approximately $9,143,000. Proficio Capital Partners LLC acquired a new position in IMAX during the 4th quarter valued at approximately $502,000. Cornerstone Investment Partners LLC acquired a new position in IMAX during the 4th quarter valued at approximately $248,000. Finally, US Bancorp DE boosted its position in IMAX by 60.3% during the 4th 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 currently owned by institutional investors.

Analyst Ratings Changes

IMAX has been the subject of a number of analyst reports. Macquarie boosted their price objective on IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Benchmark reiterated a “buy” rating and set a $30.00 price target on shares of IMAX in a research report on Thursday, February 20th. Barrington Research boosted their price target on IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. StockNews.com upgraded IMAX from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company boosted their price target on IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. 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 stock. Based on data from MarketBeat.com, IMAX currently has an average rating of “Buy” and a consensus price target of $30.67.

IMAX Stock Up 6.7 %

Shares of IMAX stock opened at $25.97 on Thursday. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 53.01, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The business has a fifty day simple moving average of $24.69 and a 200-day simple moving average of $23.57. IMAX Co. has a fifty-two week low of $14.94 and a fifty-two week high of $27.77.

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

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.