RWA Wealth Partners LLC Purchases Shares of 25,085 IMAX Corporation $IMAX

RWA Wealth Partners LLC acquired a new position in IMAX Corporation (NYSE:IMAX) in the 2nd quarter, HoldingsChannel reports. The firm acquired 25,085 shares of the company’s stock, valued at approximately $701,000.

Several other hedge funds have also recently made changes to their positions in the business. Orbis Allan Gray Ltd raised its holdings in shares of IMAX by 12.3% during the first quarter. Orbis Allan Gray Ltd now owns 3,882,766 shares of the company’s stock valued at $102,311,000 after acquiring an additional 425,081 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in IMAX by 8.3% in the first quarter. Ameriprise Financial Inc. now owns 1,974,068 shares of the company’s stock valued at $52,019,000 after acquiring an additional 150,552 shares in the last quarter. Mizuho Markets Americas LLC increased its position in IMAX by 19.3% during the 1st quarter. Mizuho Markets Americas LLC now owns 710,489 shares of the company’s stock valued at $18,721,000 after purchasing an additional 114,800 shares during the period. Jane Street Group LLC raised its holdings in IMAX by 2,496.9% in the 1st quarter. Jane Street Group LLC now owns 573,919 shares of the company’s stock worth $15,123,000 after purchasing an additional 551,819 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its position in shares of IMAX by 805.9% in the 1st quarter. Jupiter Asset Management Ltd. now owns 469,504 shares of the company’s stock worth $12,371,000 after purchasing an additional 417,677 shares during the period. 93.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Kenneth Ian Weissman sold 15,072 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $25.65, for a total value of $386,596.80. Following the transaction, the insider owned 26,133 shares in the company, valued at approximately $670,311.45. This represents a 36.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Robert D. Lister sold 50,143 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $34.67, for a total transaction of $1,738,457.81. Following the sale, the vice president owned 161,421 shares in the company, valued at approximately $5,596,466.07. The trade was a 23.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 85,215 shares of company stock valued at $2,781,055 over the last ninety days. Corporate insiders own 23.18% of the company’s stock.

IMAX Trading Up 0.0%

Shares of NYSE:IMAX opened at $34.45 on Monday. The stock has a fifty day simple moving average of $32.05 and a two-hundred day simple moving average of $28.67. IMAX Corporation has a 12-month low of $20.48 and a 12-month high of $35.60. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 48.51, a PEG ratio of 2.05 and a beta of 0.60.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.16. The firm had revenue of $106.65 million during the quarter, compared to the consensus estimate of $102.88 million. IMAX had a return on equity of 9.91% and a net margin of 10.47%.The company’s revenue was up 16.6% on a year-over-year basis. During the same period last year, the company earned $0.35 earnings per share. As a group, equities research analysts predict that IMAX Corporation 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 reaffirmed an “outperform” rating and set a $37.00 target price on shares of IMAX in a research note on Thursday, October 23rd. Wedbush lifted their price objective on IMAX from $35.00 to $39.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. B. Riley reiterated a “buy” rating on shares of IMAX in a report on Friday, October 10th. Benchmark increased their target price on IMAX from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Finally, Wall Street Zen upgraded IMAX from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.67.

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.