Aurora Investment Counsel Takes Position in IMAX Corporation $IMAX

Aurora Investment Counsel purchased a new stake in IMAX Corporation (NYSE:IMAX) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 69,927 shares of the company’s stock, valued at approximately $1,955,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV acquired a new stake in shares of IMAX in the first quarter valued at about $59,000. Ridgewood Investments LLC acquired a new stake in shares of IMAX in the second quarter valued at about $62,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of IMAX in the first quarter valued at about $202,000. Fox Run Management L.L.C. acquired a new stake in shares of IMAX in the first quarter valued at about $289,000. Finally, Neuberger Berman Group LLC grew its position in shares of IMAX by 4.1% in the first quarter. Neuberger Berman Group LLC now owns 13,838 shares of the company’s stock valued at $365,000 after purchasing an additional 542 shares during the last quarter. 93.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IMAX. Rosenblatt Securities raised their price target on IMAX from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. B. Riley reissued a “buy” rating on shares of IMAX in a research report on Friday, October 10th. Wedbush lifted their target price on IMAX from $35.00 to $39.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Wall Street Zen raised IMAX from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of IMAX in a research report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.10.

IMAX Stock Up 0.7%

Shares of IMAX opened at $32.47 on Tuesday. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 54.11, a P/E/G ratio of 2.07 and a beta of 0.62. IMAX Corporation has a 12 month low of $19.91 and a 12 month high of $34.14. The company has a 50-day moving average price of $30.37 and a two-hundred day moving average price of $27.64.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.07. The firm had revenue of $91.68 million during the quarter, compared to analysts’ expectations of $93.04 million. IMAX had a net margin of 9.04% and a return on equity of 8.62%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 earnings per share. Equities research analysts expect that IMAX Corporation will post 0.91 EPS for the current fiscal year.

Insider Transactions at IMAX

In other IMAX news, insider Kenneth Ian Weissman sold 15,072 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $25.65, for a total transaction of $386,596.80. Following the completion of the transaction, the insider owned 26,133 shares in the company, valued at $670,311.45. This trade represents a 36.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Robert D. Lister sold 20,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $32.80, for a total transaction of $656,000.00. Following the transaction, the vice president owned 161,421 shares of the company’s stock, valued at approximately $5,294,608.80. This represents a 11.02% decrease in their position. The disclosure for this sale can be found here. 24.08% of the stock is owned by company insiders.

IMAX Company 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.