IMAX Co. (NYSE:IMAX) Short Interest Update

IMAX Co. (NYSE:IMAX) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 4,850,000 shares, a growth of 12.8% from the September 15th total of 4,300,000 shares. Currently, 11.5% of the company’s shares are short sold. Based on an average trading volume of 737,400 shares, the short-interest ratio is presently 6.6 days.

Wall Street Analyst Weigh In

Several research firms have issued reports on IMAX. B. Riley boosted their price objective on shares of IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Seaport Res Ptn upgraded IMAX to a “strong-buy” rating in a report on Wednesday, July 24th. Macquarie increased their price objective on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 target price on shares of IMAX in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. upped their target price on IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.11.

IMAX Trading Down 0.6 %

NYSE IMAX opened at $20.66 on Thursday. The firm’s fifty day simple moving average is $20.51 and its two-hundred day simple moving average is $18.29. The firm has a market capitalization of $1.09 billion, a P/E ratio of 43.04, a P/E/G ratio of 1.41 and a beta of 1.25. IMAX has a 12-month low of $13.20 and a 12-month high of $22.13.

IMAX (NYSE:IMAX) last announced its earnings results on Thursday, July 25th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.11. The firm had revenue of $88.96 million for the quarter, compared to the consensus estimate of $74.52 million. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The firm’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 EPS. As a group, sell-side analysts predict that IMAX will post 0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IMAX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in IMAX during the 2nd quarter worth about $35,000. PNC Financial Services Group Inc. purchased a new stake in IMAX in the fourth quarter valued at approximately $33,000. nVerses Capital LLC acquired a new position in IMAX in the 3rd quarter worth approximately $70,000. Summit Securities Group LLC acquired a new stake in IMAX during the 2nd quarter valued at approximately $80,000. Finally, Laurus Investment Counsel Inc. acquired a new position in IMAX during the second quarter valued at $150,000. 93.51% of the stock is owned by hedge funds and other institutional investors.

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.