Wealthfront Advisers LLC Acquires Shares of 8,463 IMAX Co. (NYSE:IMAX)

Wealthfront Advisers LLC acquired a new stake in shares of IMAX Co. (NYSE:IMAX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,463 shares of the company’s stock, valued at approximately $217,000.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in IMAX by 138.5% during the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after acquiring an additional 561 shares during the last quarter. Huntington National Bank bought a new position in IMAX during the 3rd quarter valued at $34,000. Quarry LP boosted its stake in IMAX by 78,333.3% during the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after acquiring an additional 2,350 shares during the last quarter. Intech Investment Management LLC bought a new position in IMAX during the 3rd quarter valued at $205,000. Finally, Cornerstone Investment Partners LLC bought a new position in IMAX during the 4th quarter valued at $248,000. 93.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wedbush reissued an “outperform” rating and set a $32.00 target price on shares of IMAX in a report on Thursday, February 20th. Barrington Research increased their target price on shares of IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Macquarie increased their target price on shares of IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. StockNews.com cut shares of IMAX from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Finally, Wells Fargo & Company increased their target price on shares of IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, IMAX currently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

IMAX Stock Up 3.1 %

IMAX stock opened at $24.84 on Tuesday. IMAX Co. has a fifty-two week low of $14.94 and a fifty-two week high of $27.77. The firm’s 50-day simple moving average is $24.64 and its 200 day simple moving average is $23.53. The stock has a market cap of $1.32 billion, a PE ratio of 50.69, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The firm had revenue of $92.67 million during the quarter, compared to analyst estimates of $104.08 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. Equities analysts forecast that IMAX Co. will post 0.91 EPS for the current fiscal year.

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.