PEAK6 Investments LLC Grows Holdings in IMAX Co. (NYSE:IMAX)

PEAK6 Investments LLC grew its position in shares of IMAX Co. (NYSE:IMAX) by 312.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,676 shares of the company’s stock after purchasing an additional 42,165 shares during the period. PEAK6 Investments LLC owned 0.11% of IMAX worth $1,142,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of IMAX by 13.2% during the first quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock worth $9,456,000 after purchasing an additional 68,155 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in IMAX by 19.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company’s stock worth $212,000 after acquiring an additional 2,153 shares during the last quarter. Private Capital Management LLC lifted its stake in shares of IMAX by 10.0% in the 1st quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock valued at $21,092,000 after purchasing an additional 118,649 shares in the last quarter. Laurus Investment Counsel Inc. purchased a new stake in shares of IMAX during the 2nd quarter worth about $150,000. Finally, Bank of New York Mellon Corp increased its position in IMAX by 90.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after purchasing an additional 279,410 shares in the last quarter. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

IMAX Trading Up 1.6 %

IMAX stock opened at $26.73 on Tuesday. The firm has a 50 day simple moving average of $22.31 and a 200-day simple moving average of $19.83. The company has a market capitalization of $1.41 billion, a P/E ratio of 59.82, a PEG ratio of 1.68 and a beta of 1.22. IMAX Co. has a twelve month low of $13.20 and a twelve month high of $26.84.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.12. The company had revenue of $91.50 million during the quarter, compared to analyst estimates of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period last year, the business earned $0.27 EPS. On average, research analysts predict that IMAX Co. will post 0.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IMAX. Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 price target on shares of IMAX in a research report on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on shares of IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Barrington Research reissued an “outperform” rating and issued a $24.00 price objective on shares of IMAX in a research report on Thursday, October 31st. Roth Mkm raised their target price on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, StockNews.com lowered IMAX from a “buy” rating to a “hold” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.22.

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.