Renaissance Group LLC Has $2.89 Million Stock Holdings in IMAX Co. (NYSE:IMAX)

Renaissance Group LLC trimmed its position in IMAX Co. (NYSE:IMAX) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,986 shares of the company’s stock after selling 3,415 shares during the quarter. Renaissance Group LLC’s holdings in IMAX were worth $2,892,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Janney Montgomery Scott LLC raised its holdings in IMAX by 1.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock worth $747,000 after acquiring an additional 533 shares during the period. Blue Trust Inc. grew its position 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 purchasing an additional 561 shares during the last quarter. Quarry LP increased its stake in shares of IMAX by 78,333.3% in 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. Hedges Asset Management LLC lifted its position in shares of IMAX by 3.1% during the 4th quarter. Hedges Asset Management LLC now owns 83,600 shares of the company’s stock worth $2,140,000 after purchasing an additional 2,500 shares during the last quarter. Finally, US Bancorp DE boosted its stake in IMAX by 60.3% during the 4th quarter. US Bancorp DE now owns 12,276 shares of the company’s stock valued at $314,000 after purchasing an additional 4,620 shares during the period. 93.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Macquarie lifted their price target on IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Wedbush reissued an “outperform” rating and issued a $32.00 price target on shares of IMAX in a research report on Thursday, February 20th. Benchmark reiterated a “buy” rating and issued a $30.00 price objective on shares of IMAX in a research note on Thursday, February 20th. Finally, Rosenblatt Securities raised their target price on IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, IMAX presently has a consensus rating of “Moderate Buy” and an average price target of $30.67.

IMAX Trading Down 8.1 %

Shares of NYSE IMAX opened at $22.48 on Wednesday. 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 is $25.46 and its 200-day moving average is $24.09. The firm has a market capitalization of $1.19 billion, a PE ratio of 45.88, a price-to-earnings-growth ratio of 1.49 and a beta of 0.91.

IMAX (NYSE:IMAX) last announced 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 business had revenue of $92.67 million during 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 anticipate that IMAX Co. will post 0.91 earnings per share for the current fiscal year.

IMAX Profile

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.