Gamco Investors INC. ET AL Sells 26,518 Shares of IMAX Co. (NYSE:IMAX)

Gamco Investors INC. ET AL lessened its stake in shares of IMAX Co. (NYSE:IMAX) by 30.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 61,505 shares of the company’s stock after selling 26,518 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.12% of IMAX worth $995,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. bought a new stake in shares of IMAX during the fourth quarter worth $33,000. Tower Research Capital LLC TRC grew its stake in shares of IMAX by 545.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock worth $75,000 after purchasing an additional 4,218 shares during the last quarter. Partnership Wealth Management LLC bought a new stake in shares of IMAX in the fourth quarter worth $111,000. SG Americas Securities LLC grew its stake in shares of IMAX by 65.5% in the fourth quarter. SG Americas Securities LLC now owns 11,868 shares of the company’s stock worth $178,000 after purchasing an additional 4,699 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of IMAX in the first quarter worth $222,000. Institutional investors own 93.51% of the company’s stock.

IMAX Trading Up 3.6 %

Shares of IMAX traded up $0.69 on Friday, reaching $20.09. The company’s stock had a trading volume of 2,156,796 shares, compared to its average volume of 706,442. IMAX Co. has a twelve month low of $13.20 and a twelve month high of $20.70. The stock has a market capitalization of $1.06 billion, a PE ratio of 41.86, a PEG ratio of 1.75 and a beta of 1.26. The firm has a fifty day moving average of $16.75 and a 200-day moving average of $16.14.

IMAX (NYSE:IMAX) last posted its earnings results on Thursday, July 25th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. IMAX had a net margin of 5.97% and a return on equity of 7.77%. The company had revenue of $88.96 million for the quarter, compared to analyst estimates of $74.52 million. During the same quarter in the prior year, the business posted $0.17 EPS. The firm’s revenue was down 9.2% compared to the same quarter last year. As a group, equities analysts anticipate that IMAX Co. will post 0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

IMAX has been the topic of several analyst reports. Wedbush boosted their price objective on shares of IMAX from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday. B. Riley boosted their price objective on shares of IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Barrington Research reissued an “outperform” rating and issued a $25.00 price objective on shares of IMAX in a research note on Friday. Seaport Res Ptn raised shares of IMAX to a “strong-buy” rating in a research note on Wednesday. Finally, Rosenblatt Securities boosted their target price on shares of IMAX from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $23.56.

About IMAX

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.