Wedbush Securities Inc. Takes $180,000 Position in IMAX Co. (NYSE:IMAX)

Wedbush Securities Inc. acquired a new stake in shares of IMAX Co. (NYSE:IMAX – Get Rating) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 12,285 shares of the company’s stock, valued at approximately $180,000.

Other large investors have also recently made changes to their positions in the company. Foundry Partners LLC lifted its holdings in IMAX by 8.7% in the 4th quarter. Foundry Partners LLC now owns 331,093 shares of the company’s stock worth $4,854,000 after purchasing an additional 26,393 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in IMAX in the 4th quarter worth approximately $152,000. Balyasny Asset Management LLC purchased a new position in IMAX in the 3rd quarter worth approximately $2,180,000. River & Mercantile Asset Management LLP lifted its holdings in IMAX by 37.5% in the 3rd quarter. River & Mercantile Asset Management LLP now owns 107,170 shares of the company’s stock worth $2,033,000 after purchasing an additional 29,235 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in IMAX by 6.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 221,936 shares of the company’s stock worth $3,134,000 after purchasing an additional 13,376 shares in the last quarter. 75.36% of the stock is owned by hedge funds and other institutional investors.

Get IMAX alerts:

Insider Buying and Selling at IMAX

In other IMAX news, EVP Calamera Pablo sold 7,697 shares of the company’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $18.32, for a total value of $141,009.04. Following the transaction, the executive vice president now owns 34,106 shares of the company’s stock, valued at approximately $624,821.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other IMAX news, insider Mark Welton sold 20,000 shares of the company’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $18.35, for a total value of $367,000.00. Following the completion of the sale, the insider now directly owns 82,271 shares in the company, valued at approximately $1,509,672.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Calamera Pablo sold 7,697 shares of the company’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $18.32, for a total value of $141,009.04. Following the completion of the sale, the executive vice president now owns 34,106 shares of the company’s stock, valued at $624,821.92. The disclosure for this sale can be found here. 22.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on IMAX from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, February 23rd. Barrington Research lifted their price objective on IMAX from $20.00 to $22.00 in a research note on Friday, February 24th. B. Riley lifted their price objective on IMAX from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, April 10th. StockNews.com assumed coverage on IMAX in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $25.00 price objective on shares of IMAX in a research note on Wednesday, April 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

IMAX Stock Performance

NYSE IMAX opened at $20.79 on Thursday. The company has a market cap of $1.12 billion, a P/E ratio of -53.31, a P/E/G ratio of 3.35 and a beta of 1.37. The business’s 50 day moving average price is $18.36 and its 200-day moving average price is $16.27. IMAX Co. has a fifty-two week low of $12.13 and a fifty-two week high of $21.27.

IMAX (NYSE:IMAX – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $98.05 million during the quarter, compared to the consensus estimate of $95.97 million. IMAX had a negative net margin of 7.58% and a negative return on equity of 5.96%. As a group, equities analysts predict that IMAX Co. will post 0.31 EPS for the current year.

IMAX Company Profile

(Get Rating)

IMAX Corp. is an entertainment technology company, which engages in the business of motion picture technologies and presentations. It operates through following business segments: IMAX Technology Network, IMAX Technology Sales and Maintenance, and Film Distribution and Post-Production. The IMAX Technology Network segment includes the IMAX DMR segment and contingent rent from the JRSA segment.

Featured Stories

• Get a free copy of the StockNews.com research report on IMAX (IMAX)
• ASML Reports Massive Growth, Management Points To Sluggish 2023
• Will Analyst Boost Send Lockheed Martin Shares Up, Up and Away?
• Mullen Automotive: Is The Bloom Off The Rose? 
• Diversified Abbott Laboratories Could Reverse And Move Higher 
• Okta Reversal In Progress While Catalysts Approach

Receive News & Ratings for IMAX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IMAX and related companies with MarketBeat.com's FREE daily email newsletter.