CoreCap Advisors LLC Makes New Investment in IMAX Co. (NYSE:IMAX)

CoreCap Advisors LLC purchased a new stake in IMAX Co. (NYSE:IMAX) during the fourth quarter, Holdings Channel reports. The firm purchased 30,212 shares of the company’s stock, valued at approximately $773,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of IMAX. Janney Montgomery Scott LLC raised its position in shares of IMAX by 1.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock valued at $747,000 after purchasing an additional 533 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after buying an additional 561 shares during the last quarter. MetLife Investment Management LLC raised its stake in IMAX by 3.4% in the 4th quarter. MetLife Investment Management LLC now owns 25,918 shares of the company’s stock worth $664,000 after acquiring an additional 848 shares during the last quarter. State of Tennessee Department of Treasury lifted its position in IMAX by 19.8% during the 4th quarter. State of Tennessee Department of Treasury now owns 9,827 shares of the company’s stock worth $252,000 after acquiring an additional 1,627 shares during the period. Finally, Hedges Asset Management LLC grew its stake in IMAX by 3.1% during the 4th quarter. Hedges Asset Management LLC now owns 83,600 shares of the company’s stock valued at $2,140,000 after purchasing an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

IMAX Price Performance

IMAX stock opened at $26.00 on Friday. The stock has a market capitalization of $1.40 billion, a PE ratio of 53.06, a price-to-earnings-growth ratio of 1.49 and a beta of 0.79. The business has a 50 day simple moving average of $24.48 and a 200-day simple moving average of $24.59. IMAX Co. has a 12 month low of $14.94 and a 12 month high of $27.77.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. IMAX had a net margin of 7.40% and a return on equity of 8.60%. The company had revenue of $86.67 million during the quarter, compared to analysts’ expectations of $82.95 million. During the same period in the prior year, the business posted $0.15 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities research analysts anticipate that IMAX Co. will post 0.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on IMAX shares. Wells Fargo & Company cut their price target on shares of IMAX from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Wedbush reissued an “outperform” rating and set a $32.00 target price on shares of IMAX in a report on Thursday, April 17th. Macquarie upped their price target on shares of IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Barrington Research reiterated an “outperform” rating and set a $32.00 price objective on shares of IMAX in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. dropped their target price on IMAX from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.56.

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.