Intech Investment Management LLC Raises Stock Position in IMAX Co. (NYSE:IMAX)

Intech Investment Management LLC lifted its stake in IMAX Co. (NYSE:IMAX) by 116.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,589 shares of the company’s stock after purchasing an additional 11,597 shares during the period. Intech Investment Management LLC’s holdings in IMAX were worth $553,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of IMAX. Principal Financial Group Inc. raised its stake in IMAX by 69.3% in the fourth quarter. Principal Financial Group Inc. now owns 103,946 shares of the company’s stock worth $2,661,000 after buying an additional 42,562 shares in the last quarter. Savant Capital LLC bought a new position in shares of IMAX in the 4th quarter worth approximately $249,000. Quantbot Technologies LP purchased a new position in shares of IMAX in the 3rd quarter valued at approximately $777,000. Lord Abbett & CO. LLC bought a new stake in shares of IMAX during the third quarter valued at approximately $6,322,000. Finally, SG Americas Securities LLC purchased a new stake in IMAX in the fourth quarter worth $333,000. Institutional investors own 93.51% of the company’s stock.

IMAX Price Performance

IMAX stock opened at $27.06 on Tuesday. IMAX Co. has a 1-year low of $14.94 and a 1-year high of $27.77. The stock has a market capitalization of $1.43 billion, a P/E ratio of 55.22, a P/E/G ratio of 1.49 and a beta of 1.22. The business has a fifty day moving average price of $24.91 and a 200-day moving average price of $23.70.

IMAX (NYSE:IMAX) last posted its earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.14). IMAX had a net margin of 7.40% and a return on equity of 8.60%. The company had revenue of $92.67 million for the quarter, compared to the consensus estimate of $104.08 million. As a group, analysts anticipate that IMAX Co. will post 0.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of IMAX from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Wedbush reissued an “outperform” rating and set a $32.00 price objective on shares of IMAX in a research note on Thursday, February 20th. Benchmark reiterated a “buy” rating and set a $30.00 target price on shares of IMAX in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their price target on IMAX from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Finally, Barrington Research lifted their price objective on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, IMAX presently has an average rating of “Buy” and an average target price of $30.67.

IMAX 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.