Acadian Asset Management LLC Has $7.93 Million Position in IMAX Co. (NYSE:IMAX)

Acadian Asset Management LLC increased its position in IMAX Co. (NYSE:IMAX) by 178.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 490,917 shares of the company’s stock after acquiring an additional 314,742 shares during the quarter. Acadian Asset Management LLC’s holdings in IMAX were worth $7,934,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. bought a new position in shares of IMAX in the 4th quarter worth $33,000. Tower Research Capital LLC TRC lifted its holdings in shares of IMAX by 545.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock worth $75,000 after purchasing an additional 4,218 shares in the last quarter. Partnership Wealth Management LLC bought a new position in shares of IMAX in the 4th quarter worth $111,000. SG Americas Securities LLC lifted its holdings in shares of IMAX by 65.5% in the 4th quarter. SG Americas Securities LLC now owns 11,868 shares of the company’s stock worth $178,000 after purchasing an additional 4,699 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of IMAX in the 1st quarter worth $222,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

IMAX Trading Up 1.1 %

Shares of IMAX traded up $0.20 during trading hours on Monday, reaching $17.94. 346,546 shares of the company’s stock traded hands, compared to its average volume of 781,888. The stock has a market cap of $944.00 million, a PE ratio of 36.94, a price-to-earnings-growth ratio of 1.47 and a beta of 1.26. The firm’s 50 day simple moving average is $16.63 and its 200-day simple moving average is $16.02. IMAX Co. has a 12 month low of $13.20 and a 12 month high of $20.70.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. The firm had revenue of $79.12 million during the quarter, compared to the consensus estimate of $77.88 million. IMAX had a return on equity of 9.47% and a net margin of 7.13%. As a group, analysts expect that IMAX Co. will post 0.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Calamera Pablo sold 6,130 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $17.05, for a total value of $104,516.50. Following the completion of the sale, the executive vice president now owns 42,269 shares in the company, valued at approximately $720,686.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 24.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IMAX. Barrington Research reiterated an “outperform” rating and issued a $24.00 target price on shares of IMAX in a report on Monday, April 22nd. B. Riley lifted their target price on IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a report on Monday, July 8th. Benchmark reaffirmed a “buy” rating and set a $22.00 target price on shares of IMAX in a report on Thursday, June 20th. Roth Mkm lifted their target price on IMAX from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $25.00 target price on shares of IMAX in a report on Monday, June 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.00.

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.