Shapiro Capital Management LLC Lowers Position in IMAX Co. (NYSE:IMAX)

Shapiro Capital Management LLC cut its holdings in IMAX Co. (NYSE:IMAXGet Rating) by 8.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,590,367 shares of the company’s stock after selling 247,550 shares during the period. Shapiro Capital Management LLC owned about 4.38% of IMAX worth $46,212,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. First Trust Advisors LP grew its holdings in IMAX by 73.0% during the first quarter. First Trust Advisors LP now owns 38,383 shares of the company’s stock valued at $871,000 after purchasing an additional 16,201 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of IMAX in the third quarter worth $179,000. Swiss National Bank raised its position in shares of IMAX by 1.1% in the third quarter. Swiss National Bank now owns 111,500 shares of the company’s stock worth $2,116,000 after buying an additional 1,200 shares in the last quarter. Barclays PLC raised its position in shares of IMAX by 95.8% in the third quarter. Barclays PLC now owns 25,839 shares of the company’s stock worth $490,000 after buying an additional 12,641 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in IMAX during the third quarter valued at about $418,000. 91.17% of the stock is owned by institutional investors.

In other IMAX news, EVP Jacqueline Bassani sold 6,000 shares of IMAX stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $18.13, for a total value of $108,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 21.10% of the company’s stock.

NYSE IMAX traded up $0.51 during mid-day trading on Tuesday, reaching $16.17. The stock had a trading volume of 17,529 shares, compared to its average volume of 786,725. IMAX Co. has a 1 year low of $13.60 and a 1 year high of $23.57. The stock has a market cap of $946.27 million, a PE ratio of -43.50, a price-to-earnings-growth ratio of 5.58 and a beta of 1.47. The company has a fifty day moving average price of $17.12 and a 200 day moving average price of $18.10.

IMAX (NYSE:IMAXGet Rating) last posted its earnings results on Wednesday, February 23rd. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.15. IMAX had a negative net margin of 7.64% and a negative return on equity of 5.49%. The business had revenue of $108.57 million during the quarter, compared to the consensus estimate of $87.16 million. On average, research analysts expect that IMAX Co. will post 0.14 earnings per share for the current year.

A number of brokerages have recently issued reports on IMAX. Barrington Research reduced their price objective on IMAX from $25.00 to $20.00 in a research note on Monday, May 2nd. TheStreet cut IMAX from a “c” rating to a “d+” rating in a research report on Friday, April 29th. initiated coverage on shares of IMAX in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Benchmark reiterated a “buy” rating and set a $28.00 target price on shares of IMAX in a report on Thursday, February 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $23.95.

IMAX Profile (Get Rating)

IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company worldwide. It offers cinematic solution through proprietary software, theater architecture, intellectual property, and specialized equipment. The company offers IMAX Digital Re-Mastering (DMR), a proprietary technology that digitally enhances the image resolution, visual clarity, and sound quality of motion picture films for projection on IMAX screens; IMAX theater systems to exhibitor customers through sales, leases, and joint revenue sharing arrangements; and digital projection systems.

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Institutional Ownership by Quarter for IMAX (NYSE:IMAX)

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