Trexquant Investment LP Acquires 23,876 Shares of IMAX Co. (NYSE:IMAX)

Trexquant Investment LP increased its stake in shares of IMAX Co. (NYSE:IMAX) by 12.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 220,452 shares of the company’s stock after acquiring an additional 23,876 shares during the quarter. Trexquant Investment LP owned about 0.42% of IMAX worth $5,644,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in shares of IMAX by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 498,135 shares of the company’s stock worth $12,752,000 after purchasing an additional 5,826 shares during the period. Alliancebernstein L.P. grew its position in IMAX by 60.7% during the fourth quarter. Alliancebernstein L.P. now owns 78,988 shares of the company’s stock worth $2,022,000 after buying an additional 29,848 shares in the last quarter. Norges Bank bought a new position in IMAX during the fourth quarter valued at about $3,711,000. Pier Capital LLC raised its holdings in IMAX by 132.6% in the 4th quarter. Pier Capital LLC now owns 478,760 shares of the company’s stock valued at $12,256,000 after acquiring an additional 272,949 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of IMAX by 11.0% in the 4th quarter. Vanguard Group Inc. now owns 612,115 shares of the company’s stock worth $15,670,000 after acquiring an additional 60,762 shares during the period. 93.51% of the stock is currently owned by institutional investors and hedge funds.

IMAX Trading Down 5.2 %

Shares of IMAX stock opened at $24.38 on Friday. IMAX Co. has a 1-year low of $14.94 and a 1-year high of $27.77. The firm’s 50-day moving average price is $25.48 and its two-hundred day moving average price is $24.01. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 49.76, a P/E/G ratio of 1.49 and a beta of 0.91.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The business had revenue of $92.67 million for the quarter, compared to analyst estimates 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 EPS for the current year.

Wall Street Analysts Forecast Growth

IMAX has been the topic of a number of research reports. Barrington Research boosted their price objective on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Benchmark restated a “buy” rating and issued a $30.00 price objective on shares of IMAX in a research note on Thursday, February 20th. Rosenblatt Securities raised their price objective on shares of IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Macquarie upped their target price on shares of IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Wedbush restated an “outperform” rating and set a $32.00 price target on shares of IMAX in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.67.

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.