LPL Financial LLC Reduces Stock Position in IMAX Co. (NYSE:IMAX)

LPL Financial LLC decreased its position in IMAX Co. (NYSE:IMAX) by 19.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,462 shares of the company’s stock after selling 4,196 shares during the quarter. LPL Financial LLC’s holdings in IMAX were worth $447,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of IMAX by 138.5% in the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after purchasing an additional 561 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in IMAX in the 4th quarter worth approximately $217,000. Cornerstone Investment Partners LLC bought a new stake in shares of IMAX in the 4th quarter worth approximately $248,000. Savant Capital LLC purchased a new position in shares of IMAX during the fourth quarter valued at approximately $249,000. Finally, US Bancorp DE raised its holdings in shares of IMAX by 60.3% during the fourth quarter. US Bancorp DE now owns 12,276 shares of the company’s stock valued at $314,000 after acquiring an additional 4,620 shares in the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

IMAX Trading Up 2.6 %

IMAX stock opened at $23.89 on Friday. IMAX Co. has a 12 month low of $14.94 and a 12 month high of $27.77. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 48.76, a price-to-earnings-growth ratio of 1.49 and a beta of 0.91. The business’s fifty day simple moving average is $24.70 and its two-hundred day simple moving average is $24.30.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) 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 the consensus estimate of $104.08 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. On average, equities research analysts predict that IMAX Co. will post 0.91 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on IMAX shares. Barrington Research reissued an “outperform” rating and set a $32.00 price objective on shares of IMAX in a research report on Thursday. Wedbush reiterated an “outperform” rating and set a $32.00 price target on shares of IMAX in a research report on Thursday, April 17th. JPMorgan Chase & Co. lowered their price objective on shares of IMAX from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, April 11th. StockNews.com upgraded IMAX from a “hold” rating to a “buy” rating in a report on Friday. Finally, Rosenblatt Securities restated a “buy” rating and issued a $35.00 target price on shares of IMAX in a research note on Thursday. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “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.