11,000 Shares of IMAX Corporation $IMAX Purchased by JW Asset Management LLC

JW Asset Management LLC acquired a new stake in IMAX Corporation (NYSE:IMAX) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,000 shares of the company’s stock, valued at approximately $603,000. IMAX accounts for 0.3% of JW Asset Management LLC’s holdings, making the stock its 23rd largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IMAX. BlackRock Inc. bought a new stake in shares of IMAX during the 2nd quarter valued at $115,881,000. Dimensional Fund Advisors LP boosted its position in shares of IMAX by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,237,230 shares of the company’s stock worth $47,026,000 after purchasing an additional 23,401 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of IMAX by 51.8% in the 2nd quarter. Wellington Management Group LLP now owns 800,193 shares of the company’s stock worth $31,896,000 after purchasing an additional 273,122 shares during the last quarter. Nantahala Capital Management LLC acquired a new stake in shares of IMAX during the second quarter worth $26,228,239. Finally, Bank of America Corp DE acquired a new stake in shares of IMAX during the second quarter worth $17,420,000. 93.51% of the stock is owned by institutional investors.

IMAX Stock Performance

Shares of NYSE:IMAX opened at $47.98 on Friday. IMAX Corporation has a 52-week low of $32.71 and a 52-week high of $57.73. The company has a market capitalization of $2.65 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 1.00 and a beta of 0.54. The company has a 50-day simple moving average of $51.92 and a 200 day simple moving average of $43.47.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Thursday, November 5th. The company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $1.19. IMAX had a return on equity of 35.15% and a net margin of 27.70%. The firm had revenue of $174.55 million for the quarter, compared to analyst estimates of $168.53 million. During the same quarter in the prior year, the company earned $0.47 earnings per share. The business’s revenue for the quarter was up 63.6% compared to the same quarter last year. As a group, equities analysts forecast that IMAX Corporation will post 1.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IMAX. Zacks Research upgraded IMAX from a “hold” rating to a “strong-buy” rating in a report on Friday, October 9th. B. Riley Financial lifted their price target on shares of IMAX from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, October 8th. Wedbush boosted their price target on shares of IMAX from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, November 6th. Rosenblatt Securities reissued a “buy” rating and set a $65.00 price target on shares of IMAX in a research report on Wednesday, October 14th. Finally, Wells Fargo & Company reduced their price objective on shares of IMAX from $55.00 to $52.00 and set an “equal weight” rating for the company in a research note on Friday, November 6th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $58.08.

Insiders Place Their Bets

In other IMAX news, CEO Richard Gelfond sold 100,000 shares of IMAX stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $53.23, for a total transaction of $5,323,000.00. Following the completion of the transaction, the chief executive officer directly owned 665,002 shares of the company’s stock, valued at $35,398,056.46. The trade was a 13.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Natasha Fernandes sold 20,000 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $54.63, for a total transaction of $1,092,600.00. Following the completion of the transaction, the chief financial officer owned 35,596 shares in the company, valued at approximately $1,944,609.48. This represents a 35.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 507,257 shares of company stock worth $26,673,571. Company insiders own 20.55% of the company’s stock.

IMAX Company Profile

IMAX Corporation develops and operates technology and services for premium large-format cinema. Its offerings include specialized projection and sound systems, theater design and installation, and tools for remastering films for presentation on IMAX screens. The company also works with filmmakers and studios to release movies in the IMAX format, and it distributes documentary and feature-film content to its theater network. IMAX systems are used in commercial cinemas and in select educational and institutional venues.