Invesco Ltd. Has $33.76 Million Stake in IMAX Co. (NYSE:IMAX)

Invesco Ltd. lowered its holdings in shares of IMAX Co. (NYSE:IMAX) by 18.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,318,583 shares of the company’s stock after selling 297,489 shares during the quarter. Invesco Ltd.’s holdings in IMAX were worth $33,756,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC raised its stake in shares of IMAX by 14.2% in the 4th quarter. FMR LLC now owns 4,508,583 shares of the company’s stock valued at $115,420,000 after purchasing an additional 558,940 shares during the period. Raymond James Financial Inc. acquired a new stake in IMAX in the 4th quarter valued at approximately $9,143,000. Lord Abbett & CO. LLC bought a new stake in IMAX in the 3rd quarter valued at approximately $6,322,000. Pier Capital LLC boosted its position in IMAX by 132.6% during the 4th quarter. Pier Capital LLC now owns 478,760 shares of the company’s stock worth $12,256,000 after acquiring an additional 272,949 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of IMAX by 45.4% during the 4th quarter. Wells Fargo & Company MN now owns 624,510 shares of the company’s stock worth $15,987,000 after acquiring an additional 194,917 shares in the last quarter. 93.51% of the stock is currently owned by institutional investors and hedge funds.

IMAX Stock Up 3.2 %

IMAX stock opened at $22.47 on Friday. The company’s 50-day moving average price is $25.09 and its two-hundred day moving average price is $24.16. The stock has a market cap of $1.19 billion, a P/E ratio of 45.85, a P/E/G ratio of 1.49 and a beta of 0.91. IMAX Co. has a twelve month low of $14.94 and a twelve month high of $27.77.

IMAX (NYSE:IMAX) last released its quarterly 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). The firm had revenue of $92.67 million during the quarter, compared to the consensus estimate of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. Equities analysts anticipate that IMAX Co. will post 0.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IMAX has been the topic of a number of research reports. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Barrington Research increased their price objective on shares of IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. 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. Wells Fargo & Company raised their price target on IMAX from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $35.00 price objective on shares of IMAX in a research note on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $30.56.

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.