IMAX Co. (NYSE:IMAX) Position Decreased by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC reduced its holdings in IMAX Co. (NYSE:IMAX) by 36.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,690 shares of the company’s stock after selling 6,185 shares during the quarter. Angeles Investment Advisors LLC’s holdings in IMAX were worth $274,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Blue Trust Inc. increased its holdings in shares of IMAX by 138.5% in the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after buying an additional 561 shares in the last quarter. Quarry LP raised its position in shares of 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 purchasing an additional 2,350 shares during the period. Wealthfront Advisers LLC purchased a new stake in shares of IMAX during the fourth quarter valued at $217,000. Cornerstone Investment Partners LLC acquired a new position in shares of IMAX in the 4th quarter valued at $248,000. Finally, Savant Capital LLC purchased a new position in IMAX in the 4th quarter worth about $249,000. 93.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on IMAX shares. StockNews.com upgraded shares of IMAX from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. Wedbush reaffirmed an “outperform” rating and issued a $32.00 price objective on shares of IMAX in a research note on Thursday, February 20th. Wells Fargo & Company boosted their target price on shares of IMAX from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Barrington Research raised their target price on IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped their price target on IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $30.67.

IMAX Price Performance

Shares of IMAX stock opened at $26.80 on Monday. IMAX Co. has a 52-week low of $14.94 and a 52-week high of $27.77. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 54.68, a P/E/G ratio of 1.49 and a beta of 1.22. The stock has a 50-day simple moving average of $24.83 and a 200-day simple moving average of $23.66.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The firm had revenue of $92.67 million for the quarter, compared to the consensus estimate of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. As a group, equities research analysts predict that IMAX Co. will post 0.91 earnings per share for the current year.

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.