First Wilshire Securities Management Inc. Sells 5,496 Shares of IMAX Co. (NYSE:IMAX)

First Wilshire Securities Management Inc. lessened its position in shares of IMAX Co. (NYSE:IMAX) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 288,750 shares of the company’s stock after selling 5,496 shares during the period. IMAX accounts for 2.0% of First Wilshire Securities Management Inc.’s holdings, making the stock its 16th biggest holding. First Wilshire Securities Management Inc.’s holdings in IMAX were worth $7,392,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Janney Montgomery Scott LLC boosted its holdings in shares of IMAX by 1.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock worth $747,000 after buying an additional 533 shares in the last quarter. Blue Trust Inc. lifted its position in shares of IMAX by 138.5% during the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after acquiring an additional 561 shares during the period. Quarry LP boosted its stake in IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after acquiring an additional 2,350 shares in the last quarter. Hedges Asset Management LLC grew its holdings in IMAX by 3.1% in the fourth quarter. Hedges Asset Management LLC now owns 83,600 shares of the company’s stock worth $2,140,000 after purchasing an additional 2,500 shares during the period. Finally, US Bancorp DE increased its stake in IMAX by 60.3% in 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 in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

Analyst Ratings Changes

IMAX has been the subject of several research reports. Macquarie raised their target price on IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Benchmark reissued a “buy” rating and issued a $30.00 price objective on shares of IMAX in a research note on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on IMAX from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Wells Fargo & Company lifted their price target on shares of IMAX from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Finally, Barrington Research upped their price objective on shares of IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, IMAX currently has a consensus rating of “Moderate Buy” and an average price target of $30.67.

IMAX Trading Up 0.9 %

Shares of NYSE:IMAX opened at $26.60 on Wednesday. IMAX Co. has a 1-year low of $14.94 and a 1-year high of $27.77. The stock has a market cap of $1.41 billion, a PE ratio of 54.28, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The stock’s fifty day simple moving average is $25.36 and its two-hundred day simple moving average is $23.95.

IMAX (NYSE:IMAX) last released its quarterly 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 net margin of 7.40% and a return on equity of 8.60%. The firm had revenue of $92.67 million for the quarter, compared to the consensus estimate of $104.08 million. On average, sell-side analysts forecast 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.