Bank of Montreal Can decreased its position in Imax Corporation (NYSE:IMAX) by 88.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,096 shares of the company’s stock after selling 55,973 shares during the period. Bank of Montreal Can’s holdings in Imax Corporation were worth $156,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Sei Investments Co. lifted its stake in Imax Corporation by 25.0% during the 1st quarter. Sei Investments Co. now owns 206,850 shares of the company’s stock valued at $7,033,000 after acquiring an additional 41,414 shares during the period. Two Sigma Securities LLC bought a new position in Imax Corporation during the 1st quarter valued at about $331,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Imax Corporation by 78.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,774 shares of the company’s stock valued at $156,000 after acquiring an additional 2,546 shares during the period. Paloma Partners Management Co bought a new position in Imax Corporation during the 1st quarter valued at about $1,504,000. Finally, Bank of New York Mellon Corp lifted its stake in Imax Corporation by 22.9% during the 1st quarter. Bank of New York Mellon Corp now owns 943,621 shares of the company’s stock valued at $32,083,000 after acquiring an additional 175,539 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.
Several equities analysts have recently weighed in on the stock. ValuEngine cut shares of Imax Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of Imax Corporation from a “sell” rating to a “hold” rating in a research note on Monday, June 19th. B. Riley reiterated a “buy” rating and issued a $43.50 price objective on shares of Imax Corporation in a research note on Sunday, June 18th. Benchmark Co. cut shares of Imax Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 7th. Finally, Canaccord Genuity set a $33.00 price objective on shares of Imax Corporation and gave the stock a “buy” rating in a research note on Thursday, June 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $33.50.
Imax Corporation (NYSE:IMAX) opened at 22.90 on Friday. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 154.73 and a beta of 0.95. The company has a 50 day moving average of $19.59 and a 200-day moving average of $25.72. Imax Corporation has a 12-month low of $17.58 and a 12-month high of $35.30.
Imax Corporation (NYSE:IMAX) last posted its earnings results on Wednesday, July 26th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.17. Imax Corporation had a return on equity of 2.39% and a net margin of 2.81%. The company had revenue of $87.76 million during the quarter, compared to analyst estimates of $89.26 million. During the same period in the prior year, the company earned $0.18 earnings per share. The business’s revenue was down 4.3% compared to the same quarter last year. On average, equities research analysts forecast that Imax Corporation will post $0.62 earnings per share for the current year.
Imax Corporation announced that its Board of Directors has approved a share repurchase plan on Monday, June 12th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 12.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
In other Imax Corporation news, CFO Patrick Mcclymont sold 1,760 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $20.50, for a total value of $36,080.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Greg Foster sold 9,417 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $19.55, for a total value of $184,102.35. Following the sale, the chief executive officer now owns 67,018 shares of the company’s stock, valued at approximately $1,310,201.90. The disclosure for this sale can be found here. Corporate insiders own 18.90% of the company’s stock.
Imax Corporation Company Profile
IMAX Corporation is an entertainment technology company. The Company operates through seven segments: IMAX systems; theater system maintenance; joint revenue sharing arrangements; film production and IMAX DMR; film distribution; film post-production, and other. The IMAX systems segment designs, manufactures, sells or leases IMAX theater projection system equipment.
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